Hotelier Surjeet Kaur pays $3.4M for possible dev site in Jamaica

Hotel owner and developer Surjeet Kaur through the entity 143 Investors LLC paid $3.4 million to Alfred Basal through the entity Rockaway Storage Inc. for the mixed-use building (K1) at 143-05 Remington Street in Jamaica, Queens. The property appears to have an alternate address of 143-05 Liberty Avenue.
The deal closed on January 7, 2026 and was recorded on January 15, 2026. The property has 3,920 square feet of built space and 16,291 square feet of additional air rights for a total buildable of 20,196 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $856 and the price per buildable square foot is $166 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 Alfred Basal was Alfred Basal. The signatory for Surjeet Kaur was Peter Young . The contract date was November 17, 2025.

The broker on the deal was Jonah Corney of Rosewood Realty Group. According to the broker, the buyer closed all cash with a 45-day closing with tenants in place for another 4 months.

Prior sales, articles and revenue

Prior to this transaction, PincusCo has records that the buyer Surjeet Kaur purchased two properties in one transaction for a total of $6.8 million and sold one property in one transaction for a total of $8 million over the past 24 months.
The seller Alfred Basal purchased two properties in two transactions for a total of $4 million and had not sold any properties over the same time period. The 3,920-square-foot property generated revenue of $119,764 or $31 per square foot, according to the most recent income and expense figures.

The property

The mixed-use building in Jamaica has 3,920 square feet of built space and 16,291 square feet of additional air rights for a total buildable of 20,196 square feet according to a PincusCo analysis of city data. The parcel has frontage of 68 feet and is 99 feet deep with a total lot size of 6,732 square feet. The lot is irregular. The zoning is R6A which allows for up to 3 times floor area ratio (FAR) for residential with inclusionary housing. The city-designated market value for the property in 2022 is $698,000.

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 $288.2 million in sales volume in the last two years and is the 7th highest in Queens. For development, Jamaica has 1.7 times the average amount of major developments relative to other neighborhoods and is the 4th 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 9 percent of the neighborhood’s built space. There were three pre-foreclosure suit filed among other mixed-use buildings in the past 12 months.

The block

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

The majority, or 75 percent of the 16,593 square feet of built space are retail buildings, with mixed-use buildings next occupying 24 percent of the space.

The seller

The PincusCo database currently indicates that Alfred Basal owned at least six commercial properties with 82 residential units in New York City with 69,462 square feet and a city-determined market value of $6.5 million. (Market value is typically about 50% of actual value.) Within the portfolio, the bulk, or 90 percent of the 69,462 square feet of built space are walkup properties, with industrial properties next occupying 10 percent of the space. The bulk, or 57 percent of the built space, is in Brooklyn, with Queens next at 36 percent of the space.

The buyer

The PincusCo database currently indicates that Surjeet Kaur owned at least 10 commercial properties in New York City with 296,342 square feet and a city-determined market value of $58.3 million. (Market value is typically about 50% of actual value.) The portfolio has $136.8 million in debt, with top three lenders as State Bank of Texas, NewBank, and Preferred Bank respectively. Within the portfolio, the bulk, or 94 percent of the 296,342 square feet of built space are hotel properties, with retail properties next occupying 4 percent of the space. The bulk, or 74 percent of the built space, is in Queens, with Brooklyn next at 14 percent of the space.

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