Gadi Ben-Hamo pays $12.8M to Halpern, Koeppel families for seven properties in Jamaica Hills
Gadi Ben-Hamo through the entity 16219 Hillside LLC paid $12.8 million to the Halpern and Koeppel families for seven properties including the retail building (K1) at 162-11 Hillside Avenue, the mixed-use building (K2) at 162-27 Hillside Avenue, and the retail building (K1) at 162-21 Hillside Avenue in Jamaica Hills, Queens. The expected use is ground up development.
The deal closed on February 4, 2026 and was recorded on March 4, 2026. The seven properties have 14,055 square feet of built space and 105,498 square feet of additional air rights for a total buildable of 119,532 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $910 and the price per buildable square foot is $107 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 the Halpern and Koeppel families was Sandra Halpern . The signatory for Gadi Ben-Hamo was Gadi Ben Hamo. The contract date was August 31, 2025. The sale was in eight separate transactions.
Prior sales, articles and revenue
Prior to this transaction, PincusCo has records that the buyer Gadi Ben-Hamo purchased two properties in two transactions for a total of $5.3 million and sold one property in one transaction for a total of $18.6 million over the past 24 months.
The seller Sandra Halpern had not purchased any other properties and sold one property in one transaction for a total of $2.7 million over the same time period. Out of the seven properties, five with a total of 14,055 square feet of built space generated revenue of $722,370 per year.
The property
The industrial building in Jamaica Hills has 14,055 square feet of built space and 105,498 square feet of additional air rights for a total buildable of 119,532 square feet according to a PincusCo analysis of city data. The parcel has frontage of 78 feet and is 125 feet deep with a total lot size of 10,095 square feet. The zoning is R7A which allows for up to 4 times floor area ratio (FAR) for residential with inclusionary housing. The city-designated market value for the property in 2022 is $1.5 million.
Violations and lawsuits
There were no lawsuits or bankruptcies filed against the properties for the past 24 months. In addition, according to city public data, the properties have received $450 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 Jamaica Hills, The bulk, or 50 percent of the 2.1 million square feet of commercial built space are specialty buildings, with elevator buildings next occupying 30 percent of the space. In sales, Jamaica Hills has the 47th highest sale turnover among other neighborhoods in Queens with $11.1 million in sales volume in the last two years. For development, Jamaica Hills has had very little major development activity relative to other neighborhoods.It had 138,172 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
On the tax block of 162-27 Hillside Avenue, PincusCo has identified the owners of one of the nine commercial properties representing 7,474 square feet of the 21,529 square feet. The identified owner is Gadi Ben-Hamo.
On the tax block, there was one new building construction project filed totaling 5,495 square feet. It is a six-unit, 5,495 square-foot residential (R-2) building submitted by Saeed Jewel with plans filed December 14, 2016 and it has not been permitted yet.
The majority, or 86 percent of the 21,529 square feet of built space are retail buildings, with mixed-use buildings next occupying 14 percent of the space.
The buyer
The PincusCo database currently indicates that Gadi Ben-Hamo owned at least two commercial properties in New York City with 9,749 square feet and a city-determined market value of $3.1 million. (Market value is typically about 50% of actual value.) Within the portfolio, the bulk, or 77 percent of the 9,749 square feet of built space are retail properties, with industrial properties next occupying 23 percent of the space. The bulk, or 77 percent of the built space, is in Queens, with Brooklyn next at 23 percent of the space.
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