Witnick Real Estate pays $2.5M for 8-unit walkup in Williamsburg

Witnick Real Estate Partners through the entity 122 Boerum Street LLC paid $2.5 million to the entity Cezanne Outlet LLC for the eight-unit residential walkup building (C1) at 122 Boerum Street in Williamsburg, Brooklyn. The expected use is cash flowing.
The deal closed on February 13, 2026 and was recorded on February 20, 2026. The property has 6,875 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $356 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 the seller was Edna Salim. The signatory for Witnick Real Estate Partners was Isaac Abraham . The contract date was September 19, 2025.

The deal was brokered by Aaron Jungreis, Ben Khakshoor, and Alex Fuchs of Rosewood Realty Group.

Prior sales, articles and revenue

Prior to this transaction, PincusCo has records that the buyer Witnick Real Estate Partners purchased 11 properties in six transactions for a total of $94.7 million and sold one property in one transaction for a total of $18 million over the past 24 months.
The seller Edna Salim had not purchased any other properties and had not sold any properties over the same time period. The former owners according to the Department of Housing Preservation and Development includes Edna Salim, head officer and Naz Malekan, site manager. The business entity is Cezanne Outlet LLC. The 6,875-square-foot property generated revenue of $195,525 or $28 per square foot, according to the most recent income and expense figures.

The property

The residential walkup building with 8 residential units in Williamsburg has 6,875 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 25 feet and is 100 feet deep with a total lot size of 2,500 square feet. The zoning is R6 which allows for up to 2.43 times floor area ratio (FAR) for residential. The property has a 421A exemption that started in 2009 and expires in 2034. The city-designated market value for the property in 2022 is $2 million. The property has 8 rent regulated units according to city tax records from 2024.

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 $100 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 nine of the 22 commercial properties representing 69,262 square feet of the 119,714 square feet. The largest owner is Jacob Hager, followed by Alexis Acevedo-Pagano and then Edna Salim.
On the tax block, there was one new building construction project filed totaling 7,505 square feet. It is a four-unit, 7,505 square-foot residential (R-2) building submitted by Rob Herschenfeld and filed by Rob Herschenfeld with plans filed December 4, 2023 and permitted December 16, 2024.

The majority, or 55 percent of the 119,714 square feet of built space are walkup buildings, with mixed-use buildings next occupying 24 percent of the space.

The seller

The PincusCo database currently indicates that Edna Salim owned at least one commercial property with eight residential units in New York City with 6,875 square feet and a city-determined market value of $1.8 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.

The buyer

The PincusCo database currently indicates that Witnick Real Estate Partners owned at least 41 commercial properties with 894 residential units in New York City with 687,618 square feet and a city-determined market value of $180.6 million. (Market value is typically about 50% of actual value.) The portfolio has $189.1 million in debt, with top three lenders as Arbor Realty Trust, Dime Community Bank, and Webster Bank respectively. Within the portfolio, the bulk, or 60 percent of the 687,618 square feet of built space are walkup properties, with elevator properties next occupying 40 percent of the space. The bulk, or 41 percent of the built space, is in Manhattan, with Brooklyn next at 39 percent of the space.

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