Visabe Corp. pays $5.7M to Jackson Group for retail in Brooklyn Heights

Visabe Corp. through the entity 2092-2100 Grand Concourse Realty Co LLC paid $5.7 million to Jackson Group through the entity 151 Montague Opportunity LLC for the retail building (K2) at 151 Montague Street in Brooklyn Heights, Brooklyn.
The deal closed on June 24, 2025 and was recorded on June 30, 2025. The property has 6,375 square feet of built space and 6,525 square feet of additional air rights for a total buildable of 12,900 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $894 and the price per buildable square foot is $441 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 December 23, 2020, for $4 million. The signatory for Jackson Group was Gabriel Chehebar . The signatory for Visabe Corp. was Salomon Cojab . The contract date was May 1, 2025.

Prior sales and revenue

Prior to this transaction, PincusCo has no record that the buyer Visabe Corp. had purchased any other properties and sold one property in one transaction for a total of $9.4 million over the past 24 months.
The seller Jackson Group purchased 12 properties in eight transactions for a total of $147.7 million and sold three properties in three transactions for a total of $16.2 million over the same time period. The 6,375-square-foot property generated revenue of $547,570 or $86 per square foot, according to the most recent income and expense figures.

The property

The retail building in Brooklyn Heights has 6,375 square feet of built space and 6,525 square feet of additional air rights for a total buildable of 12,900 square feet according to a PincusCo analysis of city data. The parcel has frontage of 37 feet and is 100 feet deep with a total lot size of 3,750 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 $3 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 $600 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 neighborhood

In Brooklyn Heights, The bulk, or 26 percent of the 12.1 million square feet of commercial built space are office buildings, with elevator buildings next occupying 23 percent of the space. In sales, Brooklyn Heights has 2.4 times the average sales volume among other neighborhoods with $628.7 million in sales volume in the last two years and is the 8th highest in Brooklyn. For development, Brooklyn Heights has near average amount of major developments among other neighborhoods and is the 16th highest in Brooklyn. It had 1.2 million square feet of commercial and multi-family construction under development in the last two years, which represents 10 percent of the neighborhood’s built space.

The block

On this tax block, PincusCo has identified the owners of 10 of the 16 commercial properties representing 76,672 square feet of the 130,297 square feet. The largest owner is Alexander Freedman, followed by Harris Kilimitzoglou and then Norman Wachtel.
There are no active new building construction projects on this tax block.

The majority, or 33 percent of the 130,297 square feet of built space are walkup buildings, with mixed-use buildings next occupying 32 percent of the space.

The seller

The PincusCo database currently indicates that Jackson Group owned at least seven commercial properties with 33 residential units in New York City with 227,546 square feet and a city-determined market value of $64.6 million. (Market value is typically about 50% of actual value.) The portfolio has $27.8 million in debt, borrowed from Signature Bank and Safra National Bank. Within the portfolio, the bulk, or 44 percent of the 227,546 square feet of built space are retail properties, with mixed-use properties next occupying 38 percent of the space. The bulk, or 44 percent of the built space, is in Brooklyn, with Queens next at 35 percent of the space.

The buyer

The PincusCo database currently indicates that Visabe Corp. owned at least three commercial properties with 10 residential units in New York City with 31,266 square feet and a city-determined market value of $8.5 million. (Market value is typically about 50% of actual value.) The portfolio has $11.8 million in debt, borrowed from Patch of Land, Inc. and Israel Discount Bank. Within the portfolio, the bulk, or 46 percent of the 31,266 square feet of built space are industrial properties, with walkup properties next occupying 30 percent of the space. The bulk, or 54 percent of the built space, is in Brooklyn, with Manhattan next at 46 percent of the space.

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