Sheldon Perl pays $10.5M for 148-unit dev site in Stapleton Heights
171 Canal Street (l.) and 181 Canal Street (r.) axonometric diagrams, not representing actual placement (Credit - Lester Katz architect via DOB)
Sheldon Perl through the entity 1000 Canal Street LLC paid $10.5 million to Nazim Bashirov through the entity Canal Street Properties LLC for the development site (V1) at 191 Canal Street in Stapleton Heights, Staten Island. The expected use is ground up development for two apartment buildings, each with 74 units.
The deal closed on May 7, 2026 and was recorded on June 16, 2026. The property has zero square feet of built space and 79,880 square feet of additional air rights for a total buildable of 79,880 square feet according to a PincusCo analysis of city data. The sale price per buildable square foot is $131 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 September 6, 2012, for $430,000. The signatory for Nazim Bashirov was Nazim Bashirov. The signatory for Sheldon Perl was Sheldon Perl. There are two dev projects. Zeldy Roth is identified as owner via the entity 1000 Canal Street LLC in the city’s Department of Buildings.
On the lot, there are two active new building construction projects, totaling 100,638 square feet. Building A, filed under job number S01329990, is a new building project calling for a 74-unit, 50,319-square-foot residential (R-2) building at 181 Canal Street on tax lot 49 submitted by Zeldy Roth on December 8, 2025 and it has not been permitted yet.
The other project, Building B, filed under S01328926, is a new building project for a 74-unit, 50,319-square-foot residential (R-2) building at 171 Canal Street on tax lot 20, adjacent and just to the north of Building A, submitted by Zeldy Roth on December 8, 2025 and it has not been permitted yet. That tax lot will be created from a portion of tax lot 49.
Prior sales, articles and revenue
Prior to this transaction, PincusCo has no record that the buyer Sheldon Perl had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Nazim Bashirov had not purchased any other properties and had not sold any properties over the same time period.
The property
The parcel has frontage of 420 feet and is 95 feet deep with a total lot size of 39,940 square feet. The lot is irregular. The zoning is R6B which allows for up to 2 times floor area ratio (FAR) for residential with inclusionary housing. The city-designated market value for the property in 2022 is $2.5 million.
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
On the lot, there are two active new building construction projects and major alteration projects with initial costs more than $5 million, totaling 129,350 square feet. The largest, S01328926, is a new building project for a 74-unit, 64,675 square-foot R-2 building submitted by Zeldy Roth and filed by Zeldy Roth with plans filed December 8, 2025 and it has not been permitted yet. The second largest, S01329990, is a new building project for a 74-unit, 64,675 square-foot R-2 building submitted by Zeldy Roth and filed by Zeldy Roth with plans filed December 8, 2025 and it has not been permitted yet.
The block
On the tax block, there were three new building construction projects totaling 162,245 square feet. The largest is a 74-unit, 64,675 square-foot residential (R-2) building submitted by Zeldy Roth and filed by Zeldy Roth with plans filed December 8, 2025 and it has not been permitted yet. The second largest is a 74-unit, 64,675 square-foot residential (R-2) building submitted by Zeldy Roth and filed by Zeldy Roth with plans filed December 8, 2025 and it has not been permitted yet.
The majority, or 63 percent of the 75,684 square feet of built space are office buildings, with mixed-use buildings next occupying 20 percent of the space.
The buyer
The PincusCo database currently indicates that Sheldon Perl owned at least one commercial property in New York City with 120,372 square feet and a PincusCo-determined asset value of $25.1 million. The portfolio has $18.9 million in debt, borrowed from Grass River Equity Partners . The portfolio consists of at least a single industrial property.
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