Azimuth, Vertical Realty pay $12.9M for parking lot in Jackson Heights

Azimuth Development Group and Vertical Realty Capital through the entity AZ LGA Owner LLC paid $12.9 million to Janet Huang, Judy Mock, and Huei Hsiang Wang through the entity Jktw LaGuardia Holding LLC for the parking lot (G7) at 90-26 Grand Central Parkway in Jackson Heights, Queens.
The deal closed on June 10, 2026 and was recorded on June 22, 2026. The property has zero square feet of built space and 29,135 square feet of additional air rights for a total buildable of 29,135 square feet according to a PincusCo analysis of city data. The sale price per buildable square foot is $444 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 Janet Huang, Judy Mock , and Huei Hsiang Wang was Janet Huang, Judy Mock, and Huei Hsiang Wang. The signatory for Azimuth Development Group and Vertical Realty Capital was Guido Subotovsky and Jake Feldman . The contract date was May 15, 2026.

The sellers, five days later on June 15, 2026, paid $12.6 million for retail in Elmhurst, Queens.

Prior sales, articles and revenue

Prior to this transaction, PincusCo has records that the buyer Azimuth Development Group purchased nine properties in six transactions for a total of $38.2 million and sold one property in one transaction for a total of $5 million over the past 24 months.
The seller Janet Huang had not purchased any other properties and had not sold any properties over the same time period.

The property

The parcel has frontage of 232 feet and is 155 feet deep with a total lot size of 38,847 square feet. The lot is irregular. The zoning is R3-2 which allows for up to 0.5 times floor area ratio (FAR) for residential. The city-designated market value for the property in 2022 is $2.8 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 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 Jackson Heights, The bulk, or 42 percent of the 16.4 million square feet of commercial built space are elevator buildings, with walkup buildings next occupying 18 percent of the space. In sales, Jackson Heights has 1.2 times the average sales volume among other neighborhoods with $445 million in sales volume in the last two years and is the 5th highest in Queens. For development, Jackson Heights has had very little major development activity relative to other neighborhoods.It had 358,591 square feet of commercial and multi-family construction under development in the last two years, which represents 2 percent of the neighborhood’s built space.

The block

On this tax block, PincusCo has identified the owners of one of the two commercial properties representing 189,250 square feet of the 189,850 square feet. The identified owner is Ken Huang .
There are no active new building construction projects on this tax block.

The majority, or 100 percent of the 189,850 square feet of built space are hotel buildings, with industrial buildings next occupying 0 percent of the space.

The buyer

The PincusCo database currently indicates that Azimuth Development Group owned at least 19 commercial properties with 288 residential units in New York City with 360,050 square feet and a PincusCo-determined asset value of $435.2 million. The portfolio has $135 million in debt, with top three lenders as NYS Housing Finance Agency , NYC Department Of Housing Preservation And Development , and Self-Help Credit Union respectively. Within the portfolio, the bulk, or 48 percent of the 360,050 square feet of built space are specialty properties, with D6 properties next occupying 14 percent of the space. The bulk, or 58 percent of the built space, is in Bronx, with Manhattan next at 40 percent of the space.

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