Rogers Equities pays $5.5M for 29-unit dev site in Gowanus

Rogers Equities through the entity 153 9th St Realty LLC paid $5.5 million to Angelina Gatto through the entity Angelina Gatto Trust for three industrial parcels (G7) at 153 to 157 9th Street in Gowanus, Brooklyn. The expected use is ground up development.

On these lots, there is one active new building construction project, B01203713, for a 29-unit, 24,304 square-foot residential (R-2) building. The project was submitted by Rogers Equities and filed by Abe Waldman with plans filed January 27, 2026 and it has not been permitted yet. (The development site has zoning rights from these three parcels and air rights from an additional parcel, 124 8th Street.)
The deal closed on April 17, 2026 and was recorded on April 24, 2026. The three properties have zero square feet of built space and 16,500 square feet of additional air rights for a total buildable of 16,500 square feet according to a PincusCo analysis of city data. The sale price per buildable square foot is $333 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 Angelina Gatto was Richard V. Gatto . The signatory for Rogers Equities was Abraham Waldman . The contract date was April 17, 2026.

Prior sales, articles and revenue

Prior to this transaction, PincusCo has no record that the buyer Rogers Equities had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Angelina Gatto had not purchased any other properties and had not sold any properties over the same time period.

The property

The parcel has frontage of 16 feet and is 100 feet deep with a total lot size of 1,642 square feet. The zoning is M1-4/R6B which allows for up to 2 times floor area ratio (FAR) for manufacturing and up to 2 times FAR for residential with inclusionary housing. The city-designated market value for the property in 2022 is $452,000.

Transaction Participants

Izidor Mikhli at The Law Office Of Izidor Mikhli, PLLC participated in the transaction on behalf of the buyer.

Violations and lawsuits

There were no lawsuits or bankruptcies filed against the properties for the past 24 months. In addition, according to city public data, the properties have received $50 in OATH penalties in the last year.

The neighborhood

In Gowanus, The bulk, or 46 percent of the 9.2 million square feet of commercial built space are industrial buildings, with elevator buildings next occupying 19 percent of the space. In sales, Gowanus has 2.1 times the average sales volume among other neighborhoods with $709.9 million in sales volume in the last two years and is the 10th highest in Brooklyn. For development, Gowanus has 1.2 times the average amount of major developments relative to other neighborhoods and is the 7th highest in Brooklyn. It had 2 million square feet of commercial and multi-family construction under development in the last two years, which represents 22 percent of the neighborhood’s built space. There were 70 pre-foreclosure suit filed among other industrial buildings in the past 12 months.

The block

On the tax block of 157 9th Street, PincusCo has identified the owners of two of the 27 commercial properties representing 10,744 square feet of the 128,340 square feet. The two identified owners are Barry Hers and Lael Schultz.
On the tax block, there were two new building construction projects totaling 29,279 square feet. The largest is a 29-unit, 24,304 square-foot residential (R-2) building submitted by Rogers Equities and filed by Abe Waldman with plans filed January 27, 2026 and it has not been permitted yet. The second largest is a six-unit, 4,974 square-foot residential (R-2) building submitted by Shahram Taied and filed by Shahram Taied with plans filed March 10, 2026 and it has not been permitted yet.

The majority, or 51 percent of the 128,340 square feet of built space are industrial buildings, with walkup buildings next occupying 33 percent of the space.

The buyer

The PincusCo database currently indicates that Rogers Equities owned at least one commercial property in New York City with 9,200 square feet and a PincusCo-determined asset value of $21.3 million. The portfolio has $16 million in debt, borrowed from S3 Capital. The portfolio consists of at least a single office property.

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