Manouchehr Malekan pays $4.5M to Kamel Bahary for retail in Bayside

Manouchehr Malekan through the entity Horace Harding Commons LLC paid $4.5 million to Kamel S. Bahary through the entity Kew LLC for retail building at 210-01 Horace Harding Expressway in Bayside, Queens.
The deal closed on January 28, 2022 and was recorded on February 17, 2022.
The property has 14,320 square feet of built space according to PincusCo analysis of city data. The sale price per built square foot is $314 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 Kamel S. Bahary was Kamel S. Bahary. The signatory for Manouchehr Malekan was Manouchehr Malekan.
Prior to this transaction, the buyer Manouchehr Malekan purchased six properties in four transactions for a total of $20.8 million and had not sold any properties over the past 24 months.
The 14,320-square-foot property generated revenue of $477,429 or $33 per square foot, according to the most recent income and expense figures.

(420053952)The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building on December 26, 2019.
In Bayside, the majority, or 70 percent of the 28.8 million square feet of built space are 1-4 family buildings, with specialty buildings next occupying 12 percent of the space. In sales, Bayside has the 24th highest sale turnover among other neighborhoods in Queens with $42.5 million in sales volume in the last two years. For development, Bayside has had very little major development activity relative to other neighborhoods.It had -664,556 square feet of commercial and multi-family construction under development in the last two years, which represents -2.31 percent of the neighborhood’s built space.
On the tax block, the majority, or 72 percent of the 50,485 square feet of built space are 1-4 family buildings, with retail buildings next occupying 28 percent of the space.

Direct link to Acris document. link