Sheepshead Bay commercial building in litigation sells for $5.1M

The entity 2448 Coney Realty Group LLC, with unknown ownership, paid $5.1 million to Mickey Gilbert through the entity 2448 Coney Island Avenue LLC for the office building (O7) at 2448 Coney Island Avenue in Sheepshead Bay, Brooklyn.
The deal closed on August 29, 2025 and was recorded on September 15, 2025. The property has 4,217 square feet of built space and 5,383 square feet of additional air rights for a total buildable of 9,613 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $1,212 and the price per buildable square foot is $531 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 Mickey Gilbert was Mickey Gilbert. The signatory for 2448 Coney Realty Group LLC was an attorney, Jay H. Kim . The contract date was April 17, 2020, more than five years ago.

The current tenant, SMC Brooklyn LLC, which is a partnership of a medical doctor, David Orfali and David Mosseri, had an option to purchase the property. That option was included in the original lease dated April 17, 2020. That’s the same date as the contract, according to the transfer.

Orfali sued Gilbert and Mosseri in New York State Supreme Court in Brooklyn in July, 524061/2025, alleging a conspiracy for Mosseri to buy the property without Orfali. The case remains active. In the court filing, Mickey Gilbert’s given name is spelled Micky.

Prior sales and revenue

Prior to this transaction, PincusCo has no record that the buyer had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Salvatore Trantino had not purchased any other properties and had not sold any properties over the same time period. The 4,217-square-foot property generated revenue of $252,848 or $60 per square foot, according to the most recent income and expense figures.

The property

The office building in Sheepshead Bay has 4,217 square feet of built space and 5,383 square feet of additional air rights for a total buildable of 9,613 square feet according to a PincusCo analysis of city data. The parcel has frontage of 140 feet and is 71 feet deep with a total lot size of 9,613 square feet. The lot is irregular. The zoning is C8-1 which allows for up to 1 times floor area ratio (FAR) for commercial The city-designated market value for the property in 2022 is $1.7 million.

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 Sheepshead Bay, The bulk, or 43 percent of the 26.6 million square feet of commercial built space are elevator buildings, with specialty buildings next occupying 17 percent of the space. In sales, Sheepshead Bay has 1.7 times the average sales volume among other neighborhoods with $473.7 million in sales volume in the last two years and is the 13th highest in Brooklyn. For development, Sheepshead Bay has had very little major development activity relative to other neighborhoods.It had 621,555 square feet of commercial and multi-family construction under development in the last two years, which represents 2 percent of the neighborhood’s built space. There was one pre-foreclosure suit filed among other office buildings in the past 12 months.

The block

On this tax block, PincusCo has identified the owners of five of the 12 commercial properties representing 24,675 square feet of the 66,235 square feet. The largest owner is David Chemtob, followed by Yehudis Klein and then Platinum Realty Associates.
There are no active new building construction projects on this tax block.

The majority, or 60 percent of the 66,235 square feet of built space are retail buildings, with mixed-use buildings next occupying 29 percent of the space.

Direct link to Acris document. link