TG Realty pays $2.6M for 8-unit walkup in Bedford Stuyvesant

TG Realty, led by Shlomo Tajerstein, through the entity 556 Lafayette LLC paid $2.6 million to Mayer Kohn through the entity Lafayette Residence LLC for the eight-unit residential walkup building (C1) at 556 Lafayette Avenue in Bedford Stuyvesant, Brooklyn. The expected use is cash flowing.
The deal closed on May 13, 2025 and was recorded on May 28, 2025. The property has 8,800 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $295 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 May 1, 2007, for $825,000. The signatory for Mayer Kohn was Mayer Kohn. The signatory for TG Realty was Orlee Fishkin .

Prior sales and revenue

Prior to this transaction, PincusCo has no record that the buyer TG Realty had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Mayer Kohn had not purchased any other properties and had not sold any properties over the same time period. The former owner according to the Department of Housing Preservation and Development is Chaim Goldberger, head officer. The business entity is Lafayette Residence Llc.

The property

The residential walkup building with 8 residential units in Bedford Stuyvesant has 8,800 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 28 feet and is 100 feet deep with a total lot size of 2,850 square feet. 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 $1.7 million.

Violations and lawsuits

The property was involved in one lawsuit and zero bankruptcies over the past two years. The suit was a $3.8 million commercial foreclosure concerning a loan filed on December 5, 2023, by Northeast Bank against Mayer Kohn and Miriam Kohn. In addition, according to city public data, the property has received one DOB violation, 26 housing violations, and $830 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 14 of the 25 commercial properties representing 136,301 square feet of the 180,527 square feet. The largest owner is Anshel Niederman, followed by Edgardo Kramer and then Guy Shor.
On the tax block, there was one new building construction project filed totaling 6,573 square feet. It is a eight-unit, 6,573 square-foot residential (R-2) building submitted by Tomer Erlich with plans filed July 19, 2016 and it has not been permitted yet.

The majority, or 72 percent of the 180,527 square feet of built space are walkup buildings, with mixed-use buildings next occupying 21 percent of the space.

The seller

The PincusCo database currently indicates that Mayer Kohn owned at least three commercial properties with 20 residential units in New York City with 16,180 square feet and a city-determined market value of $3.8 million. (Market value is typically about 50% of actual value.) The portfolio has $7.8 million in debt, borrowed from Greystone & Co.. Within the portfolio, all identified are walkup properties. They are all located in Brooklyn.

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