Salman Capital pays $4.2M for 32-unit walkup in Bensonhurst

Salman Capital through the entity 8200 Bay Pkwy LLC paid $4.2 million through a bankruptcy for the 32-unit residential walkup building (C7) at 8200 Bay Parkway in Bensonhurst, Brooklyn. The expected use is cash flowing. The former owner was Ira J. Epstein, through the entity 8200 Realty Associates LLC.
The deal closed on May 28, 2025 and was recorded on June 3, 2025. The property has 28,000 square feet of built space and 1,200 square feet of additional air rights for a total buildable of 29,160 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $150 and the price per buildable square foot is $144 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 December 4, 2008, for $5.2 million. The signatory for the bankruptcy court for the Ira J. Epstein  property was Jonathan Pasternak. The signatory for Salman Capital was Reuven Salman . The contract date was May 28, 2025. The bankruptcy case was filed in the Eastern District of New York, 1-23-42775-jmm.

Prior sales and revenue

Prior to this transaction, PincusCo has records that the buyer Salman Capital purchased one property in one transaction for a total of $2.3 million and has no record it sold any properties over the past 24 months.
The seller Ira J. Epstein 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 Ira Epstein, head officer. The business entity is 8200 Realty Associates Llc. The 28,000-square-foot property generated revenue of $661,640 or $24 per square foot, according to the most recent income and expense figures.

The property

The residential walkup building with 32 residential units in Bensonhurst has 28,000 square feet of built space and 1,200 square feet of additional air rights for a total buildable of 29,160 square feet according to a PincusCo analysis of city data. The parcel has frontage of 100 feet and is 120 feet deep with a total lot size of 12,000 square feet. The zoning is R6 which allows for up to 2.43 times floor area ratio (FAR) for residential. The city-designated market value for the property in 2022 is $3.6 million. The property has 31 rent regulated units according to city tax records from 2023.

Violations and lawsuits

The property was involved in one lawsuit and one bankruptcy over the past two years. The suit was a $430,000 money judgment concerning a contract filed on May 12, 2025, by Jonathan Rubin and WHP Equities against Valley National Bank. The bankruptcy was filed on August 3, 2023, by Ira Joseph Epstein citing assets of $5.5 million. In addition, according to city public data, the property has received two DOB violations and five housing violations 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 one of the two commercial properties representing 47,700 square feet of the 75,700 square feet. The identified owner is Getz Obstfeld Co-Trustee.
There are no active new building construction projects on this tax block.

The majority, or 63 percent of the 75,700 square feet of built space are elevator buildings, with walkup buildings next occupying 37 percent of the space.

The seller

The PincusCo database currently indicates that Ira J. Epstein owned at least one commercial property with 29 residential units in New York City with 46,200 square feet and a city-determined market value of $2.4 million. (Market value is typically about 50% of actual value.) The portfolio has $5.5 million in debt, borrowed from New York Community Bank. The portfolio consists of at least a single elevator property. It is located in Brooklyn.

The buyer

The PincusCo database currently indicates that Salman Capital owned at least one commercial property with five residential units in New York City with 7,592 square feet and a city-determined market value of $5.1 million. (Market value is typically about 50% of actual value.) The portfolio consists of at least a single mixed-use property. It is located in Manhattan.

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