Yellow Jacket Ventures pays $4.2M for 54-unit rental in Cypress Hills

Yellow Jacket Ventures through the entity Sunnyland Holdings LLC paid $4.2 million to Elliot Tokayer through the entity Sunnyside Realty Associates, Inc. for the 54-unit residential elevator building (D1) at 79 Sunnyside Avenue in Cypress Hills, Brooklyn. The expected use is cash flowing.
The deal closed on October 16, 2025 and was recorded on November 12, 2025. The property has 44,163 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $94 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 Elliot Tokayer was Elliot Tokayer. The signatory for Yellow Jacket Ventures was Akiva Kurland . The contract date was July 25, 2025.

Prior sales and revenue

Prior to this transaction, PincusCo has records that the buyer Yellow Jacket Ventures purchased one property in one transaction for a total of $8.2 million and has no record it sold any properties over the past 24 months.
The seller Elliot Tokayer 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 Eli Toayer, head officer and Sam Rosen, site manager. The business entity is Sunnyside Realty Associates. The 44,163-square-foot property generated revenue of $706,976 or $16 per square foot, according to the most recent income and expense figures.

The property

The residential elevator building with 54 residential units in Cypress Hills has 44,163 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 100 feet and is 100 feet deep with a total lot size of 10,000 square feet. The zoning is R4 which allows for up to 0.75 times floor area ratio (FAR) for residential. The city-designated market value for the property in 2022 is $1.8 million. The property has 54 rent regulated units according to city tax records from 2022.

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, 89 housing violations, and $300 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 two of the four commercial properties representing 132,096 square feet of the 176,259 square feet. The identified owner is Alma Realty.
There are no active new building construction projects on this tax block.

The majority, or 100 percent of the 176,259 square feet of built space are elevator buildings, with development buildings next occupying 0 percent of the space.

The buyer

The PincusCo database currently indicates that Yellow Jacket Ventures owned at least five commercial properties with 169 residential units in New York City with 102,490 square feet and a city-determined market value of $8.9 million. (Market value is typically about 50% of actual value.) The portfolio has $39.5 million in debt, with top three lenders as Amalgamated Bank, Northeast Community Bank, and JPMorgan Chase respectively. Within the portfolio, the bulk, or 53 percent of the 102,490 square feet of built space are elevator properties, with walkup properties next occupying 41 percent of the space. The bulk, or 79 percent of the built space, is in Brooklyn, with Bronx next at 21 percent of the space.

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