David Murdakhayev pays $6M to funeral home for two lots in Flushing

David Murdakhayev through the entity H16205 LLC paid $6 million to the funeral home Sinai Chapels for the commercial building at 162-05 Horace Harding Expressway and another industrial building on Horace Harding Expressway, both in Flushing, Queens.
The deal closed on January 5, 2022 and was recorded on January 26, 2022.
The two properties have 15,200 square feet of built space and 13,500 square feet of additional air rights for a total buildable of 27,000 square feet according to PincusCo analysis of city data. The sale price per built square foot is $394 and the price per buildable square foot is $222 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 Sinai Chapels was Michael Resnick. The signatory for David Murdakhayev was David Murdakhayev.

Out of the two properties, one with a total of 15,200 square feet of built space generated revenue of $266,210 per year.

Michael Resnick is the CEO of Sinai Chapels.
In Flushing, the bulk, or 39 percent of the 78.7 million square feet of built space are residential elevator buildings, with 1-4 family buildings next occupying 29 percent of the space. In sales, Flushing has near average sales volume among other neighborhoods with $312.4 million in sales volume in the last two years and is the 4th highest in Queens. For development, Flushing has 2.9 times the average amount of major developments relative to other neighborhoods and is the 5th highest in Queens. It had 2.6 million square feet of commercial and multi-family construction under development in the last two years, which represents 3 percent of the neighborhood’s built space. There were two pre-foreclosure suit filed among other office buildings in the past 12 months.
On the tax block, the majority, or 79 percent of the 72,165 square feet of built space are 1-4 family buildings, with office buildings next occupying 21 percent of the space.
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