Sephardic yeshivah pays $10M to Ashkenazi organization for school in Marine Park

The Sephardic school, Yeshivat Lev Torah, paid $10 million to Yeshivah Rambam, a school with Ashkenazi heritage, for the school building (W2) at 3330 Kings Highway in Marine Park, Brooklyn. The expected use is owner-occupied.
The deal closed on March 17, 2026 and was recorded on March 19, 2026. The property has 21,068 square feet of built space and 4,802 square feet of additional air rights for a total buildable of 25,725 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $474 and the price per buildable square foot is $388 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 October 8, 2014, for $1.2 million. The signatory for Yeshivah Rambam was Steven Plotnick. The signatory for Yeshivat Lev Torah was head of school, Rabbi Yosef Mamrout . In the filing, the given name is spelled Yosif.

The contract date was February 9, 2022. Yeshivat Lev Torah’s acquisition of the 3300 Kings Highway facility marks another chapter for Yeshivah Rambam, a storied Modern Orthodox institution that has effectively ceased to exist as a standalone school. Facing a high debt and shifting neighborhood demographics, Rambam—formally the Zvi Dov Roth Academy—spent years subleasing floors to the rapidly expanding Sephardic Yeshivat Lev Torah.

The transition culminated in a total transfer of the site, allowing Lev Torah to consolidate its boys’ divisions. This underscores a broader trend in Brooklyn: the contraction of mid-century Ashkenazi legacies in the neighborhood, in favor of surging Sephardic educational demand.

Alex Rovt, fertilizer tycoon that Forbes called a billionaire in 2020, who is also a real estate developer, was a financial supporter of the school and former board president.

Members of the Mamrout family own American Exchange and Sentry Realty.

Prior sales, articles and revenue

Prior to this transaction, PincusCo has no record that the buyer Yeshivat Lev Torah had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Yeshivah Rambam had not purchased any other properties and had not sold any properties over the same time period.

The property

The specialty building in Marine Park has 21,068 square feet of built space and 4,802 square feet of additional air rights for a total buildable of 25,725 square feet according to a PincusCo analysis of city data. The parcel has frontage of 58 feet and is 302 feet deep with a total lot size of 34,300 square feet. The lot is irregular. The zoning is R4 which allows for up to 0.75 times floor area ratio (FAR) for residential. The city-designated market value for the property in 2022 is $4.9 million.

Transaction Participants

Jeffery D. Dayon at Mishaan Dayon LLP participated in the transaction on behalf of the buyer .

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.

Development

For the tax lot building, it received its initial certificate of occupancy on March 2, 2015. There are no active new building construction projects or major alteration projects with initial costs more than $1 million on this tax lot.

The neighborhood

In Marine Park, The bulk, or 26 percent of the 2.1 million square feet of commercial built space are mixed-use buildings, with specialty buildings next occupying 25 percent of the space. In sales, Marine Park has the 41st highest sale turnover among other neighborhoods in Brooklyn with $53.7 million in sales volume in the last two years. For development, Marine Park has had very little major development activity relative to other neighborhoods.It had 13,951 square feet of commercial and multi-family construction under development in the last two years, which represents 0.67 percent of the neighborhood’s built space.

The block

On this tax block, PincusCo has identified the owners of two of the 11 commercial properties representing 70,944 square feet of the 111,408 square feet. The two identified owners are Rubin Margules and Slope Asset Management.
There are no active new building construction projects on this tax block.

The majority, or 60 percent of the 111,408 square feet of built space are elevator buildings, with specialty buildings next occupying 19 percent of the space.

The buyer

The PincusCo database currently indicates that Yeshivat Lev Torah owned at least one commercial property in New York City with 23,430 square feet and a city-determined market value of $3.5 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 Brooklyn.

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