Brooklyn Union Gas Company pays $5M for gas station in Forest Hills

Brooklyn Union Gas Company paid $5 million to Jae Kim through the entity Trujef 1004 LLC for the gas station (G1) at 100-32 Metropolitan Avenue in Forest Hills, Queens. The expected use is cash flowing.
The deal closed on April 15, 2025 and was recorded on April 23, 2025. The property has 3,000 square feet of built space and 2,000 square feet of additional air rights for a total buildable of 5,000 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $1,650 and the price per buildable square foot is $990 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 Jae Kim was Jae Kim. The contract date was October 28, 2024.

Prior sales and revenue

Prior to this transaction, PincusCo has no record that the buyer Brooklyn Union Gas Company had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Jae Kim had not purchased any other properties and had not sold any properties over the same time period. The 3,000-square-foot property generated revenue of $112,650 or $38 per square foot, according to the most recent income and expense figures.

The property

The industrial building in Forest Hills has 3,000 square feet of built space and 2,000 square feet of additional air rights for a total buildable of 5,000 square feet according to a PincusCo analysis of city data. The parcel has frontage of 100 feet and is 100 feet deep with a total lot size of 10,000 square feet. 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 $649,000.

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 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 $85.6 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 880,381 square feet of commercial and multi-family construction under development in the last two years, which represents 6 percent of the neighborhood’s built space.

The block

There are no active new building construction projects on this tax block.

The majority, or 100 percent of the 4,624 square feet of built space are industrial buildings, with development buildings next occupying 0 percent of the space.

Direct link to Acris document. link