Rubin Equities pays $7M to BNS Real Estate for 99-unit dev site in Mott Haven

Rubin Equities through the entity 114 Bruckner Realty LLC paid $7 million to BNS Real Estate through the entity 114 Bruckner LLC for the development site that is currently a retail building (K5) at 114 Bruckner Boulevard in Mott Haven, Bronx. The expected use is ground up development.
On the lot, there is one active new building construction project, X01294705, for a 99-unit, 67,174 square-foot R-2 building. The project was submitted by Rubin Equities and filed by Sam Rubin with plans filed October 5, 2025 and it has not been permitted yet.

The deal closed on November 12, 2025 and was recorded on November 18, 2025. The property has 1,549 square feet of built space and 55,670 square feet of additional air rights for a total buildable of 57,190 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $4,519 and the price per buildable square foot is $122 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 BNS Real Estate was Bradford S. Barr . The signatory for Rubin Equities was Sam Rubin . The contract date was November 15, 2025.

Prior sales and revenue

Prior to this transaction, PincusCo has records that the buyer Rubin Equities purchased one property in one transaction for a total of $5.6 million and sold one property in one transaction for a total of $5.1 million over the past 24 months.
The seller BNS Real Estate had not purchased any other properties and sold 14 properties in 13 transactions for a total of $56.8 million over the same time period. The 1,549-square-foot property generated revenue of $164,138 or $106 per square foot, according to the most recent income and expense figures.

The property

The retail building in Mott Haven has 1,549 square feet of built space and 55,670 square feet of additional air rights for a total buildable of 57,190 square feet according to a PincusCo analysis of city data. The parcel has frontage of 100 feet and is 95 feet deep with a total lot size of 9,500 square feet. The zoning is M1-5/R8A which allows for up to 5 times floor area ratio (FAR) for manufacturing and up to 6.02 times FAR for residential with inclusionary housing. The city-designated market value for the property in 2022 is $817,000.

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 not received any significant violations in the last year.

The neighborhood

In Mott Haven, The bulk, or 45 percent of the 41.7 million square feet of commercial built space are elevator buildings, with industrial buildings next occupying 23 percent of the space. In sales, Mott Haven has near average sales volume among other neighborhoods with $304.3 million in sales volume in the last two years and is the highest in Bronx. For development, Mott Haven has 2.4 times the average amount of major developments relative to other neighborhoods and is the 2nd highest in Bronx. It had 3.6 million square feet of commercial and multi-family construction under development in the last two years, which represents 9 percent of the neighborhood’s built space.

The block

On this tax block, PincusCo has identified the owners of three of the 11 commercial properties representing 90,305 square feet of the 214,263 square feet. The two identified owners are Storage Post and Bettina Equities.
On the tax block, there were two new building construction projects totaling 114,642 square feet. The largest is a 99-unit, 67,174 square-foot residential (R-2) building submitted by Rubin Equities and filed by Sam Rubin with plans filed October 5, 2025 and it has not been permitted yet. The second largest is a 133-unit, 47,468 square-foot hotel/dormitory/shelter (R-1) building submitted by Amritpal Sandhu and filed by Amritpal Sandhu with plans filed January 15, 2016 and it has not been permitted yet.

The majority, or 99 percent of the 214,263 square feet of built space are industrial buildings, with retail buildings next occupying 1 percent of the space.

The seller

The PincusCo database currently indicates that Bns Real Estate owned at least two commercial properties with 80 residential units in New York City with 139,803 square feet and a city-determined market value of $14.4 million. (Market value is typically about 50% of actual value.) Within the portfolio, the bulk, or 56 percent of the 139,803 square feet of built space are industrial properties, with elevator properties next occupying 44 percent of the space. The bulk, or 56 percent of the built space, is in Bronx, with Brooklyn next at 44 percent of the space.

The buyer

The PincusCo database currently indicates that Rubin Equities owned at least four commercial properties with 69 residential units in New York City with 205,520 square feet and a city-determined market value of $49.7 million. (Market value is typically about 50% of actual value.) The portfolio has $64 million in debt, borrowed from Popular Bank and Citibank. Within the portfolio, the bulk, or 90 percent of the 205,520 square feet of built space are office properties, with industrial properties next occupying 10 percent of the space. The bulk, or 90 percent of the built space, is in Brooklyn, with Bronx next at 10 percent of the space.

Direct link to Acris document. link