Rafael Abramov pays $3.7M to Jack Aini for retail building in Sheepshead Bay

Rafael Abramov through the entity 3202 Emmons LLC paid $3.7 million to Jack Aini through the entity Pacific Stewart Holding LLC for retail building at 3202 Emmons Avenue in Sheepshead Bay, Brooklyn.
The deal closed on December 29, 2021 and was recorded on January 24, 2022.
The property has 6,900 square feet of built space and 2,908 square feet of additional air rights for a total buildable of 9,825 square feet according to PincusCo analysis of city data. The sale price per built square foot is $536 and the price per buildable square foot is $376 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 seller bought the property on September 25, 2015, for $3.3 million.
The signatory for Jack Aini was Jack Aini. The signatory for Rafael Abramov was Rafael Abramov.

The 6,900-square-foot property generated revenue of $290,369 or $42 per square foot, according to the most recent income and expense figures.

In Sheepshead Bay, the bulk, or 42 percent of the 62.1 million square feet of built space are 1-4 family buildings, with residential elevator buildings next occupying 33 percent of the space. In sales, Sheepshead Bay has 1.4 times the average sales volume among other neighborhoods with $395.1 million in sales volume in the last two years and is the 8th highest in Brooklyn. For development, Sheepshead Bay has had very little major development activity relative to other neighborhoods.It had 704,512 square feet of commercial and multi-family construction under development in the last two years, which represents 1 percent of the neighborhood’s built space.
On the tax block, the majority, or 37 percent of the 391,017 square feet of built space are residential elevator buildings, with specialty buildings next occupying 36 percent of the space.
Within a 400-foot radius of 3202 Emmons Avenue, PincusCo identified one commercial real estate item of interests occurred over the past 24 months.
It was a loan which Harshad Patel borrowed $5 million from Woori America Bank secured by the 19,950-square-foot, one-unit hotel (H4) on 3218 Emmons Avenue on November 15, 2021.

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