Shloma, Herman Stuhl pays $7M for bulk rental condo in Williamsburg

Shloma Stuhl and Herman Stuhl through the entity Rubin Stuhl LLC paid $7 million to Rabsky Group and Spencer Equity Group through the entity Wallabout Realty Corp. for the bulk rental condominium unit at 352 Wallabout Street in Williamsburg, Brooklyn. The expected use is cash flowing. The unit has several apartments locate on floors 3, 4, 5 and 6.
The deal closed on April 8, 2025 and was recorded on April 15, 2025. The property has 6,692 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $1,053 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 Rabsky Group and Spencer Equity Group was Basya Price. The signatory for Shloma Stuhl and Herman Stuhl was Shloma Stuhl. The contract date was March 6, 2025.

Prior sales and revenue

Prior to this transaction, PincusCo has no record that the buyer Shloma Stuhl had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Rabsky Group purchased two properties in two transactions for a total of $76.4 million and sold two properties in two transactions for a total of $14.6 million over the same time period.

The block

On this tax block, PincusCo has identified the owners of five of the five commercial properties representing zero square feet of the zero square feet. The identified owner is Rabsky Group.
On the tax block, there were five new building construction projects totaling 672,317 square feet. The largest is a 120-unit, 159,860 square-foot residential (R-2) building submitted by Rabsky Group and filed by Rafael Rabinowitz with plans filed April 28, 2021 and permitted December 23, 2021. The second largest is a 60-unit, 133,619 square-foot residential (R-2) building submitted by Rabsky Group and filed by Rafael Rabinowitz with plans filed April 14, 2021 and permitted April 25, 2023.

All properties are specialty.

The seller

The PincusCo database currently indicates that Rabsky Group owned at least 36 commercial properties with 5,030 residential units in New York City with 2,154,761 square feet and a city-determined market value of $320.1 million. (Market value is typically about 50% of actual value.) The portfolio has $2.4 billion in debt, with top three lenders as Bank Leumi, Madison Realty Capital, and Apollo Global Management respectively. Within the portfolio, the bulk, or 82 percent of the 2,154,761 square feet of built space are elevator properties, with specialty properties next occupying 8 percent of the space. The bulk, or 80 percent of the built space, is in Brooklyn, with Queens next at 19 percent of the space.

The buyer

The PincusCo database currently indicates that Shloma Stuhl owned at least 24 commercial properties with 196 residential units in New York City with 156,518 square feet and a city-determined market value of $24 million. (Market value is typically about 50% of actual value.) Within the portfolio, the bulk, or 99 percent of the 156,518 square feet of built space are walkup properties, with mixed-use properties next occupying 1 percent of the space. The bulk, or 92 percent of the built space, is in Brooklyn, with Queens next at 8 percent of the space.

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