Juliana and Sergey Porotsky pays $7M to RW Real Estate Group for commercial property in Queens Village

Juliana and Sergey Porotsky paid RW Real Estate Group’s RW 214-50 Jamaica LLC $7.1 million for 214-50 Jamaica Avenue in Queens Village. The deal closed on December 20, 2019, and was recorded on December 23, 2019. The transaction consists of 1 parcel, including the tax class one-story store building (K1). The property is 20,136 square feet. The parcel(s) have total development potential of 22,370 square feet.
The average sale price per square foot is $318.

The property will be managed by RW Real Estate Group founded by Alex Weiss and Mark Reichenbaum, according to a document filed with the city. The last time the property sold was May 19, 2011, for $2,300,000.
The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building on July 25, 2012.
Over the past five years, there has been one NYC Department of Buildings permit application filed for this parcel valued at more than $20,000. There was one renovation/alteration project (A2) applied for with a total estimated value of $110,150.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link