Shaker Altayya pays $3.5M for retail in East Flatbush

Shaker Altayya through the entity 3101-3111 Church Ave LLC paid $3.5 million to David Klein for the retail building (K2) at 3101-3111 Church Avenue in East Flatbush, Brooklyn. The expected use is cash flowing.
The deal closed on February 27, 2026 and was recorded on March 12, 2026. The property has 3,650 square feet of built space and 784 square feet of additional air rights for a total buildable of 4,434 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $958 and the price per buildable square foot is $789 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 David Klein was David Klein. The signatory for Shaker Altayya was Shaker Altayya. The contract date was February 12, 2026.

Prior sales, articles and revenue

Prior to this transaction, PincusCo has no record that the buyer Shaker Altayya had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller David Klein had not purchased any other properties and had not sold any properties over the same time period. The 3,650-square-foot property generated revenue of $155,893 or $43 per square foot, according to the most recent income and expense figures.

The property

The retail building in East Flatbush has 3,650 square feet of built space and 784 square feet of additional air rights for a total buildable of 4,434 square feet according to a PincusCo analysis of city data. The parcel has frontage of 18 feet and is 100 feet deep with a total lot size of 1,825 square feet. The lot is irregular. 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 $755,000.

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 received two DOB violations and $20,050 in OATH penalties 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 neighborhood

In East Flatbush, The bulk, or 32 percent of the 42.6 million square feet of commercial built space are elevator buildings, with walkup buildings next occupying 24 percent of the space. In sales, East Flatbush has 1.6 times the average sales volume among other neighborhoods with $514.8 million in sales volume in the last two years and is the 13th highest in Brooklyn. For development, East Flatbush has 1.2 times the average amount of major developments relative to other neighborhoods and is the 8th highest in Brooklyn. It had 1.9 million square feet of commercial and multi-family construction under development in the last two years, which represents 4 percent of the neighborhood’s built space.

The block

On this tax block, PincusCo has identified the owners of six of the 32 commercial properties representing 28,650 square feet of the 122,243 square feet. The largest owner is Jeno Guttmann, followed by Gil Shenhav and then Sadik Mann.
There are no active new building construction projects on this tax block.

The majority, or 77 percent of the 122,243 square feet of built space are mixed-use buildings, with elevator buildings next occupying 16 percent of the space.

The seller

The PincusCo database currently indicates that David Klein owned at least two commercial properties with 33 residential units in New York City with 10,154 square feet and a city-determined market value of $1.6 million. (Market value is typically about 50% of actual value.) Within the portfolio, the bulk, or 68 percent of the 10,154 square feet of built space are walkup properties, with C1 properties next occupying 32 percent of the space. The bulk, or 68 percent of the built space, is in Brooklyn, with Bronx next at 32 percent of the space.

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