New York City · Commercial sale

The Bnos Chaya Efraim Foundation buys 1365 38 Street in Brooklyn for $28 million

A warehouse at 1365 38 Street, Brooklyn sold for $28,000,000 on September 4, 2026. See the seller and buyer net sheets for this sale.

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Automated sale report from public sales records · How we make these · Published October 28, 2026

Sold September 4, 2026 · New York, New York

Aerial view of 1365 38 Street, Brooklyn with the parcel outlined — Aerial photo: U.S. Geological Survey. Parcel outline: NYC Department of Finance. The photo can predate the sale.

Sale price: $28,000,000
Sold: September 4, 2026
Property type: Warehouse
Building area: 111,756 sq ft
Price per sq ft: $251
Year built: 1915

Seller and buyer net sheets for this sale

Seller Buyer

NetSheet.orgSeptember 4, 2026

Seller's estimated net sheet

1365 38 Street, Brooklyn

Sale price	$28,000,000
Prorations
Property tax proration (refund to seller)	$378,460.27
Title and settlement
Settlement / closing fee	$250
Seller's attorney fee	$1,500
Transfer taxes and recording
NY State real estate transfer tax	$112,000
NY State additional transfer tax (NYC non-residential $2M+)	$70,000
NYC real property transfer tax (commercial/other)	$735,000
Other costs
Wire / courier / payoff processing	$75
Total deductions	$918,825
Estimated net to seller	$27,459,635.27

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NetSheet.orgSeptember 4, 2026

Buyer's estimated net sheet

1365 38 Street, Brooklyn

Purchase price (cash)	$28,000,000
Title and settlement
Owner's title insurance policy	$86,627.55
Settlement / closing fee	$250
Buyer's attorney fee	$2,000
Transfer taxes and recording
Deed recording fee	$250
Prorations
Reimburse seller for prepaid taxes	$378,460.27
Closing costs and prepaids	$467,587.82
Estimated cash to close	$28,467,587.82

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What these figures assume

No brokerage commission is shown: commissions on commercial deals vary and are not in the public record.
The seller figure is before any loan payoff.
The buyer side assumes a cash purchase with no financing.
Annual property tax estimated at 1.65% of price ($462,000).
Title and settlement fees are typical estimates, not quotes.

Selling in Brooklyn?

New York City transfer tax and closing costs

A Brooklyn warehouse sold for $28,000,000, a price that is 2.8 times its recorded market value. The sale closed on September 4, 2026, according to city property records. The city had valued the property at $9,913,000.

The warehouse spans 111,756 square feet, the records show. It was built in 1915 on a 0.57-acre lot. The sale works out to $251 per square foot.

The seller was 1365 Realty Corp. The buyer is The Bnos Chaya Efraim Foundation, Efraim Fink, Trustee and Chaya D. Fink, Trustee.

This summary was written by AI from public sales records and checked by automated rules. The figures come from the record and the NetSheet.org rules engine. How we make these.

What were the closing costs in New York City?

By our estimate, the seller's two largest charges, not counting prorations, were $735,000 for the nYC real property transfer tax (commercial/other) and $112,000 for the nY State real estate transfer tax. Who pays what follows New York City custom.

How much did the seller net?

By our estimate, the seller netted about $27,459,635. That is before any broker commissions and any loan payoff.

How much cash did the buyer bring to closing?

A cash buyer would need about $28,467,588 at closing. That covers the full price and closing costs.

Run this net sheet with your numbers (free)

1365 38 Street, Brooklyn, NY.

Source: NYC Department of Finance, ACRIS (NYC Open Data), document 2026091000389001. Property details: NYC Department of Finance. Net sheets are estimates from the NetSheet.org rules engine, not the parties' actual closing statements. Request a correction or removal.