Published On: Wed, Feb 10th, 2016

Meet the little Williamsburg building that’s home to over 1, 000 LLCs

The likes of Menachem Stark, Yoel Goldman have plied their trade through 199 Lee Avenue

Menachem Stark,   Yoel Goldman  199-Lee - 199 Lee Avenue in Williamsburg (credits Google Street View and the Brooklyn Daily)

 

At first glance it seems like one nondescript building among scores in South Williamsburg, a three-story brown-brick property housing a small retail store and a couple of apartments above.

But in Hasidic real estate circles, the 3, 500-square-foot structure at 199 Lee Avenue is legendary. Hundreds of landlords from the Orthodox community, who collectively own thousands of apartments in Brooklyn’s fastest-growing neighborhoods, have mailboxes there. Every month, these mailboxes are used to collect rent checks and help cloak the identities of some of the city’s most mysterious property owners.

Since 1973, a grand total of 1, 391 companies were registered to 199 Lee Avenue, according to The Real Deal’s analysis of Active Corporations records at the New York Department of State. Thirteen companies registered there last month alone. Not all these are real estate firms, of course, but hundreds are, including entities tied to Yoel Goldman’s All Year Management, Joel Gluck’s Spencer Equity Group, slain landlord Menachem Stark, his brother-in-law Abraham Bernat and his former business partner Israel Perlmutter.

By Ariel Stulberg and Kyna Doles

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