Yitzchok Lebowitz pays $5.1M to Alchemy Ventures for 14-unit walkup in Bed Stuy

Yitzchok Lebowitz through the entity 1063 Bedford Place LLC paid $5.1 million to Alchemy Ventures through the entity 1063 Bedford Avenue LLC for the 14-unit residential walkup building (C7) at 1063 Bedford Avenue in Bedford Stuyvesant, Brooklyn. The expected use is cash flowing.
The deal closed on February 25, 2026 and was recorded on March 10, 2026. The property has 11,520 square feet of built space and 4,480 square feet of additional air rights for a total buildable of 16,000 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $444 and the price per buildable square foot is $320 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 8, 2016, for $3.5 million. The signatory for Alchemy Ventures was Sam Kooris . The signatory for Yitzchok Lebowitz was Yitzchok Lebowitz. The contract date was October 27, 2025.

Prior sales, articles and revenue

Prior to this transaction, PincusCo has no record that the buyer Yitzchok Lebowitz had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Alchemy Ventures purchased three properties in three transactions for a total of $32 million and sold three properties in three transactions for a total of $22 million over the same time period. The former owners according to the Department of Housing Preservation and Development includes Alexander Horn, head officer and Alex Horn, officer. The business entity is 1063 Bedford Avenue Llc. The 11,520-square-foot property generated revenue of $532,040 or $46 per square foot, according to the most recent income and expense figures.

The property

The residential walkup building with 14 residential units in Bedford Stuyvesant has 11,520 square feet of built space and 4,480 square feet of additional air rights for a total buildable of 16,000 square feet according to a PincusCo analysis of city data. The parcel has frontage of 40 feet and is 100 feet deep with a total lot size of 4,000 square feet. The zoning is R7A which allows for up to 4 times floor area ratio (FAR) for residential with inclusionary housing. The city-designated market value for the property in 2022 is $2 million. The property has 7 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 one housing violation and $150 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 11 of the 16 commercial properties representing 118,612 square feet of the 143,812 square feet. The largest owner is Benjamin Kornblum, followed by Isaac Baum and then Alchemy Ventures.
There are no active new building construction projects on this tax block.

The majority, or 68 percent of the 143,812 square feet of built space are walkup buildings, with elevator buildings next occupying 17 percent of the space.

The seller

The PincusCo database currently indicates that Alchemy Ventures owned at least 38 commercial properties with 360 residential units in New York City with 324,613 square feet and a city-determined market value of $80.2 million. (Market value is typically about 50% of actual value.) The portfolio has $70.6 million in debt, with top three lenders as Signature Bank, Citibank, and Greystone & Co. respectively. Within the portfolio, the bulk, or 83 percent of the 324,613 square feet of built space are walkup properties, with elevator properties next occupying 11 percent of the space. The bulk, or 77 percent of the built space, is in Brooklyn, with Manhattan next at 21 percent of the space.

The buyer

The PincusCo database currently indicates that Yitzchok Lebowitz owned at least two commercial properties with 18 residential units in New York City with 15,053 square feet and a city-determined market value of $2.9 million. (Market value is typically about 50% of actual value.) Within the portfolio, all identified are walkup properties. The bulk, or 70 percent of the built space, is in Brooklyn, with Queens next at 30 percent of the space.

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