Emerald Group, Infinite Care pay $17.1M to Daryl Hagler for specialty in Far Rockaway

Emerald Group and Infinite Care through the entity 13-11 Virginia Snf Realty LLC paid $17.1 million to Daryl Hagler through the entity Rockaway Real Estate Holdings Associates LLC for the specialty building (I6) at 13-11 Virginia Street in Far Rockaway, Queens. The expected use is cash flowing.

This is part of a $1.7 billion transaction, reported earlier by The Promote.
The deal closed on March 13, 2026 and was recorded on March 26, 2026. The property has 31,157 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $548 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 seller bought the property on April 5, 2017, for $3 million. The signatory for Daryl Hagler was Daryl Hagler. The signatory for Emerald Group and Infinite Care was Shmuel Serle . The contract date was March 13, 2026.

Prior sales, articles and revenue

Prior to this transaction, PincusCo has records that the buyer Emerald Group purchased six properties in three transactions for a total of $296.2 million and has no record it sold any properties over the past 24 months.
The seller Daryl Hagler had not purchased any other properties and sold nine properties in four transactions for a total of $360.2 million over the same time period.

The property

The specialty building in Far Rockaway has 31,157 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 250 feet and is 175 feet deep with a total lot size of 40,000 square feet. The lot is irregular. The zoning is R3X 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 $4.2 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 received $5,935 in OATH penalties 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 Far Rockaway, The majority, or 65 percent of the 12.8 million square feet of commercial built space are elevator buildings, with specialty buildings next occupying 18 percent of the space. In sales, Far Rockaway has had very little sales volume relative to other neighborhoods with $153.3 million in sales volume in the last two years. For development, Far Rockaway has had very little major development activity relative to other neighborhoods.It had 955,973 square feet of commercial and multi-family construction under development in the last two years, which represents 7 percent of the neighborhood’s built space.

The block

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

The majority, or 69 percent of the 45,445 square feet of built space are specialty buildings, with walkup buildings next occupying 23 percent of the space.

The seller

The PincusCo database currently indicates that Daryl Hagler owned at least four commercial properties in New York City with 395,962 square feet and a city-determined market value of $54.2 million. (Market value is typically about 50% of actual value.) The portfolio has $196.7 million in debt, with top three lenders as Popular Bank, Benzion Lebovits, and M&T Bank respectively. Within the portfolio, the bulk, or 80 percent of the 395,962 square feet of built space are hotel properties, with office properties next occupying 12 percent of the space. The bulk, or 46 percent of the built space, is in Queens, with Manhattan next at 34 percent of the space.

The buyer

The PincusCo database currently indicates that Emerald Group owned at least six commercial properties in New York City with 583,592 square feet and a city-determined market value of $76.8 million. (Market value is typically about 50% of actual value.) The portfolio has $239.9 million in debt, borrowed from Huntington National Bank. Within the portfolio, the bulk, or 100 percent of the 583,592 square feet of built space are specialty properties, with industrial properties next occupying 0 percent of the space. They are all located in Brooklyn.

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