Vays, Smuk, others pay $3.5M to Blas family for mixed-use in Williamsburg

Edward Vays, Benjamin Smuk, Philip S. Green, and Seth A. Green through the entity 64 Schulyer LLC paid $3.5 million to the Blas family for the two-unit mixed-use building (S2) at 296 Grand Street in Williamsburg, Brooklyn. The expected use is cash flowing.
The deal closed on February 20, 2026 and was recorded on March 3, 2026. The property has 3,000 square feet of built space and 1,692 square feet of additional air rights for a total buildable of 4,700 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $1,166 and the price per buildable square foot is $744 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 Blas Family was Anthony Lamberti. The signatory for Edward Vays , Benjamin Smuk , Philip S. Green, and Seth A. Green was Edward Vays, Benjamin Smuk, Philip S. Green, and Seth A. Green. The contract date was October 28, 2025.

Prior sales, articles and revenue

Prior to this transaction, PincusCo has no record that the buyer Edward Vays had purchased any other properties and sold two properties in one transaction for a total of $3.1 million over the past 24 months.
The seller Blas Family had not purchased any other properties and had not sold any properties over the same time period.

The property

The mixed-use building with 2 residential units in Williamsburg has 3,000 square feet of built space and 1,692 square feet of additional air rights for a total buildable of 4,700 square feet according to a PincusCo analysis of city data. The parcel has frontage of 25 feet and is 94 feet deep with a total lot size of 2,350 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 $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

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 Williamsburg, The bulk, or 39 percent of the 50.4 million square feet of commercial built space are elevator buildings, with walkup buildings next occupying 25 percent of the space. In sales, Williamsburg has the 6th highest sale turnover among other neighborhoods in the city with $2 billion in sales volume in the last two years. For development, Williamsburg is the 2nd most active neighborhood among other neighborhoods. It had 42 million square feet of commercial and multi-family construction under development in the last two years, which represents 83 percent of the neighborhood’s built space. There were 30 pre-foreclosure suit filed among other mixed-use buildings in the past 12 months.

The block

On this tax block, PincusCo has identified the owners of 10 of the 22 commercial properties representing 67,410 square feet of the 135,799 square feet. The largest owner is Salvatore Bullaro, followed by Leonard Rutkowitz and then Toucan House Llc.
There are no active new building construction projects on this tax block.

The majority, or 47 percent of the 135,799 square feet of built space are mixed-use buildings, with walkup buildings next occupying 24 percent of the space.

The buyer

The PincusCo database currently indicates that Benjamin Smuk owned at least one commercial property with eight residential units in New York City with 6,880 square feet and a city-determined market value of $1.2 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.
The PincusCo database currently indicates that Edward Vays owned at least one commercial property with 10 residential units in New York City with 12,000 square feet and a city-determined market value of $2.6 million. (Market value is typically about 50% of actual value.) The portfolio consists of at least a single elevator property. It is located in Brooklyn.

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