Soly Halabi affiliate pays $6M for 22-unit walkup in Brooklyn Heights

A group that includes Soly Halabi as manager, through the entity 138-140 Montague St. LLC, paid $6 million to the estate of Gloria Rivera for the 22-unit residential walkup building (C7) at 138-140 Montague Street in Brooklyn Heights, Brooklyn. The expected use is cash flowing.
The deal closed on February 25, 2026 and was recorded on March 3, 2026. The property has 16,334 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $367 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 Gloria Rivera was James R. Santangelo . The signatory for Soly Halabi . president of the brokerage Venture Capital Properties, was Soly Halabi. The contract date was April 23, 2025.

Prior sales, articles and revenue

Prior to this transaction, PincusCo has no record that the buyer Soly Halabi had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Gloria Rivera had not purchased any other properties and sold one property in one transaction for a total of $3 million over the same time period. The former owners according to the Department of Housing Preservation and Development includes James Santangelo, head officer and Juan Rivera, officer. The business entity is Estate Of Gloria Rivera. The 16,334-square-foot property generated revenue of $776,184 or $48 per square foot, according to the most recent income and expense figures.

The property

The residential walkup building with 22 residential units in Brooklyn Heights has 16,334 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 49 feet and is 95 feet deep with a total lot size of 4,703 square feet. The zoning is R7-1 which allows for up to 3.44 times floor area ratio (FAR) for residential. The property is in the Brooklyn Heights Historic District. The city-designated market value for the property in 2022 is $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 received one DOB violation and $380 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 block

On this tax block, PincusCo has identified the owners of 16 of the 20 commercial properties representing 126,865 square feet of the 166,939 square feet. The largest owner is Gloria Rivera, followed by Conway Capital and then Russell Harkavy.
There are no active new building construction projects on this tax block.

The majority, or 39 percent of the 166,939 square feet of built space are mixed-use buildings, with walkup buildings next occupying 36 percent of the space.

The seller

The PincusCo database currently indicates that Gloria Rivera owned at least one commercial property with 22 residential units in New York City with 16,334 square feet and a city-determined market value of $5.8 million. (Market value is typically about 50% of actual value.) The portfolio consists of at least a single walkup property. It is located in Brooklyn.

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