Yeshiva Yesoda Hatorah Vetz Chaim pays $4.7M for specialty in Canarsie

Yeshiva Yesoda Hatorah Vetz Chaim paid $4.7 million to Ronald Gilbert through the entity Centerland Brooklyn LLC for the specialty building (I9) at 9504 Glenwood Road in Canarsie, Brooklyn. The expected use is owner-occupied.
The deal closed on May 9, 2025 and was recorded on May 16, 2025. The property has 12,400 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $379 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 October 11, 2017, for $1,000,000. The signatory for Ronald Gilbert was Ronald Gilbert. The contract date was February 20, 2025.

Prior sales and revenue

Prior to this transaction, PincusCo has no record that the buyer Yeshiva Yesoda Hatorah Vetz Chaim had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Ronald Gilbert had not purchased any other properties and sold three properties in two transactions for a total of $12 million over the same time period.

The property

The specialty building in Canarsie has 12,400 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 55 feet and is 90 feet deep with a total lot size of 4,950 square feet. The zoning is R4-1 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 $1.4 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 Canarsie, The bulk, or 28 percent of the 11.7 million square feet of commercial built space are elevator buildings, with industrial buildings next occupying 25 percent of the space. In sales, Canarsie has the 39th highest sale turnover among other neighborhoods in Brooklyn with $74.3 million in sales volume in the last two years. For development, Canarsie has had very little major development activity relative to other neighborhoods.It had 80,912 square feet of commercial and multi-family construction under development in the last two years, which represents 0.69 percent of the neighborhood’s built space.

The block

On this tax block, PincusCo has identified the owners of one of the six commercial properties representing 12,400 square feet of the 18,323 square feet. The identified owner is Yeshiva Yesoda Hatorah Vetz Chaim.
There are no active new building construction projects on this tax block.

The majority, or 68 percent of the 18,323 square feet of built space are specialty buildings, with retail buildings next occupying 12 percent of the space.

The buyer

The PincusCo database currently indicates that Yeshiva Yesoda Hatorah Vetz Chaim owned at least two commercial properties in New York City with 30,160 square feet and a city-determined market value of $3.1 million. (Market value is typically about 50% of actual value.) Within the portfolio, all identified are specialty properties. They are all located in Brooklyn.

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