Rabia Yaghoubzadeh pays $1.7M for 6-unit walkup in Bedford Stuyvesant

Rabia Yaghoubzadeh through the entity 37 Bolt Equities LLC paid $1.7 million to Mark Barbour through the entity Byoung Management, LLC for the six-unit residential walkup building (C2) at 37 Decatur Street in Bedford Stuyvesant, Brooklyn. The expected use is cash flowing.
The deal closed on February 19, 2025 and was recorded on February 27, 2025. The property has 3,375 square feet of built space and 375 square feet of additional air rights for a total buildable of 3,750 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $490 and the price per buildable square foot is $441 per the PincusCo analysis. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.)
The signatory for Mark Barbour was Mark Barbour. The signatory for Rabia Yaghoubzadeh was Rabia Yaghoubzadeh.

Prior sales and revenue

Prior to this transaction, PincusCo has no record that the buyer Rabia Yaghoubzadeh had purchased any other properties and sold two properties in two transactions for a total of $6 million over the past 24 months.
The seller Mark Barbour had not purchased any other properties and had not sold any properties over the same time period. The former owner according to the Department of Housing Preservation and Development is Mark Barbour, head officer. The business entity is B Young Management Llc.

The property

The residential walkup building with 6 residential units in Bedford Stuyvesant has 3,375 square feet of built space and 375 square feet of additional air rights for a total buildable of 3,750 square feet according to a PincusCo analysis of city data. The parcel has frontage of 18 feet and is 100 feet deep with a total lot size of 1,875 square feet. The zoning is R6B which allows for up to 2 times floor area ratio (FAR) for residential with inclusionary housing. The property is in the Bedford Stuyvesant / Expanded Stuyvesant Heights Historic District. The city-designated market value for the property in 2022 is $445,000.

Violations and lawsuits

There were no lawsuits or bankruptcies filed against the property for the past 24 months. In addition, according to city public data, the property has received $900 in OATH penalties and one housing litigation in the last year.

Development

There are no active new building construction projects or major alteration projects with initial costs more than $1 million on this tax lot.

The block

On this tax block, PincusCo has identified the owners of five of the 14 commercial properties representing 25,178 square feet of the 59,103 square feet. The largest owner is Sugar Hill Capital Partners, followed by Sasha Mehdyzadeh and then Tom Michaeli.
There are no active new building construction projects on this tax block.

The majority, or 70 percent of the 59,103 square feet of built space are walkup buildings, with mixed-use buildings next occupying 30 percent of the space.

The buyer

The PincusCo database currently indicates that Rabia Yaghoubzadeh owned at least two commercial properties with 10 residential units in New York City with 6,886 square feet and a city-determined market value of $4.2 million. (Market value is typically about 50% of actual value.) Within the portfolio, the bulk, or 51 percent of the 6,886 square feet of built space are C0 properties, with walkup properties next occupying 49 percent of the space. They are all located in Brooklyn.

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