Cohen family pays $3.3M to 7-Eleven for dev site in Jamaica

The Cohen family behind Daniel Group and Leviathan Capital through the entity 148 Lib LLC paid $3.3 million to 7-Eleven through the entity Speedway LLC for the vacant development site at 148-27 Liberty Avenue in Jamaica, Queens. The expected use if ground up development.
The deal closed on May 29, 2026 and was recorded on June 17, 2026. The property has 289 square feet of built space and 84,000 square feet of additional air rights for a total buildable of 84,280 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $11,418 and the price per buildable square foot is $39 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 7-Eleven was David J. Colletti Jr. . The signatory for Daniel Group was Edward J. Bullard Jr. . The contract date was October 20, 2025.

Prior sales, articles and revenue

Prior to this transaction, PincusCo has records that the buyer Daniel Group purchased four properties in four transactions for a total of $14.8 million and sold one property in one transaction for a total of $2.9 million over the past 24 months.
The seller 7-Eleven had not purchased any other properties and had not sold any properties over the same time period.

The property

The industrial building in Jamaica has 289 square feet of built space and 84,000 square feet of additional air rights for a total buildable of 84,280 square feet according to a PincusCo analysis of city data. The parcel has frontage of 134 feet and is 106 feet deep with a total lot size of 14,000 square feet. The lot is irregular. The zoning is R8A which allows for up to 6.02 times floor area ratio (FAR) for residential with inclusionary housing. The city-designated market value for the property in 2022 is $840,000.

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 Jamaica, The bulk, or 34 percent of the 29.2 million square feet of commercial built space are elevator buildings, with specialty buildings next occupying 14 percent of the space. In sales, Jamaica has near average sales volume among other neighborhoods with $335.8 million in sales volume in the last two years and is the 7th highest in Queens. For development, Jamaica has 2.3 times the average amount of major developments relative to other neighborhoods and is the 3rd highest in Queens. It had 3.8 million square feet of commercial and multi-family construction under development in the last two years, which represents 13 percent of the neighborhood’s built space.

The block

On this tax block, PincusCo has identified the owners of one of the 13 commercial properties representing 2,700 square feet of the 71,074 square feet. The identified owner is Carlos Arroyd.
There are no active new building construction projects on this tax block.

The majority, or 86 percent of the 71,074 square feet of built space are industrial buildings, with walkup buildings next occupying 9 percent of the space.

The buyer

The PincusCo database currently indicates that Daniel Group owned at least 46 commercial properties with 344 residential units in New York City with 418,795 square feet and a PincusCo-determined asset value of $156.1 million. Within the portfolio, the bulk, or 42 percent of the 418,795 square feet of built space are elevator properties, with walkup properties next occupying 24 percent of the space. The bulk, or 34 percent of the built space, is in Queens, with Bronx next at 26 percent of the space.

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