Auto entrepreneur Ariel Tehrani pays $4.2M for retail in Long Island City

Ariel Tehrani, who owns several businesses related to automobiles, through the entity 4328 Van Dam Street LLC paid $4.2 million to Fredrick C. Eisenstein through the entity 43-28 Van Dam Realty Corp for the mixed-use building (K2) at 43-28 Van Dam Street and the adjacent parking lot (G8) at 43-30 Van Dam Street in Long Island City, Queens. The expected use is owner-occupied.
The deal closed on December 5, 2025 and was recorded on December 15, 2025. The two properties have 3,256 square feet of built space and 3,072 square feet of additional air rights for a total buildable of 6,330 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $1,296 and the price per buildable square foot is $666 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 Fredrick C. Eisenstein was Fredrick C. Eisenstein. The signatory for Ariel Tehrani was Ariel Tehrani, who also uses the name Arie Terrani. The contract date was March 31, 2025.
Arie Terrani is CEO of Luxor Motor Cars, GoMotopia.com and Fleet Commercial Funding.

Prior sales and revenue

Prior to this transaction, PincusCo has no record that the buyer Ariel Tehrani had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Fredrick C. Eisenstein had not purchased any other properties and had not sold any properties over the same time period.

The property

The mixed-use building in Long Island City has 3,256 square feet of built space and 3,072 square feet of additional air rights for a total buildable of 6,330 square feet according to a PincusCo analysis of city data. The parcel has frontage of 25 feet and is 59 feet deep with a total lot size of 1,485 square feet. The lot is irregular. The zoning is M1-4 which allows for up to 2 times floor area ratio (FAR) for manufacturing The city-designated market value for the property in 2022 is $727,000.

Violations and lawsuits

There were no lawsuits or bankruptcies filed against the properties for the past 24 months. In addition, according to city public data, the properties have 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 Long Island City, The bulk, or 32 percent of the 60.1 million square feet of commercial built space are industrial buildings, with elevator buildings next occupying 31 percent of the space. In sales, Long Island City has 3.2 times the average sales volume among other neighborhoods with $955.9 million in sales volume in the last two years and is the highest in Queens. For development, Long Island City is the 9th most active neighborhood among other neighborhoods. It had 6.4 million square feet of commercial and multi-family construction under development in the last two years, which represents 11 percent of the neighborhood’s built space.

The block

On the tax block of 43-28 Van Dam Street, PincusCo has identified the owners of one of the seven commercial properties representing zero square feet of the 19,421 square feet. The identified owner is City Of New York.
There are no active new building construction projects on this tax block.

The majority, or 59 percent of the 19,421 square feet of built space are office buildings, with industrial buildings next occupying 26 percent of the space.

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