Adjmis’ A&H Acquisitions sells Forest Hills retail for $11.4M

UPDATED 9:35 a.m., September 8, 2025: The entity Zakon Realty, LLC paid $11.4 million to the Adjmi family’s A&H Acquisitions through the entity 100 Queens Blvd. Associates LLC for the mixed-use retail building (K2) at 100-07 Queens Boulevard in Forest Hills, Queens. The expected use is cash flowing.
The deal closed on December 20, 2024 and was recorded on December 27, 2024. The property has 16,000 square feet of built space and 12,649 square feet of additional air rights for a total buildable of 28,627 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $712 and the price per buildable square foot is $398 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 A&H Acquisitions was Harry Adjmi. The contract date was July 23, 2024. The Adjmi family also manages property through the company ACHS Management.

Prior sales and revenue

The seller A&H Acquisitions had not purchased any other properties and had not sold any properties over the past 24 months..

The property

The mixed-use building in Forest Hills has 16,000 square feet of built space and 12,649 square feet of additional air rights for a total buildable of 28,627 square feet according to a PincusCo analysis of city data. The parcel has frontage of 139 feet and is 120 feet deep with a total lot size of 8,322 square feet. The lot is irregular. The zoning is R7-1 which allows for up to 3.44 times floor area ratio (FAR) for residential. The city-designated market value for the property in 2022 is $3.2 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 received $620 in ECB penalties and $9,380 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 neighborhood

In Forest Hills, The majority, or 61 percent of the 14.8 million square feet of commercial built space are elevator buildings, with specialty buildings next occupying 12 percent of the space. In sales, Forest Hills has had very little sales volume relative to other neighborhoods with $75.1 million in sales volume in the last two years. For development, Forest Hills has had very little major development activity relative to other neighborhoods.It had 732,903 square feet of commercial and multi-family construction under development in the last two years, which represents 5 percent of the neighborhood’s built space.

The block

On this tax block, PincusCo has identified the owner of the one commercial property that spans that spans 16,000 square feet on the block.The identified owner is Alex Adjmi.
There are no active new building construction projects on this tax block.

All properties are mixed-use.

UPDATED with the removal of a private individual’s name.

Direct link to Acris document. link