Jamaica Hospital owner MediSys pays $9.7M for industrial in Richmond Hill

MediSys Health Network, which operates Jamaica Hospital, through the entity MediSys Health Network Inc., paid $9.7 million to home decor seller Belle Maison USA through the entity Triple E&J Corp. for the industrial building (E1) at 89-50 127th Street in Richmond Hill, Queens. The expected use is owner-occupied.

The building is about half a mile west of Jamaica Hospital.
The deal closed on June 2, 2026 and was recorded on June 10, 2026. The property has 23,500 square feet of built space and 2,041 square feet of additional air rights for a total buildable of 25,520 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $412 and the price per buildable square foot is $380 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 Belle Maison USA was Elie Romano . The signatory for MediSys Health Network was Mounir Doss . The contract date was March 9, 2026.

Prior sales, articles and revenue

Prior to this transaction, PincusCo has no record that the buyer MediSys Health Network had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Belle Maison USA had not purchased any other properties and had not sold any properties over the same time period.

The property

The industrial building in Richmond Hill has 23,500 square feet of built space and 2,041 square feet of additional air rights for a total buildable of 25,520 square feet according to a PincusCo analysis of city data. The parcel has frontage of 255 feet and is 100 feet deep with a total lot size of 25,520 square feet. The zoning is M1-1 which allows for up to 1 times floor area ratio (FAR) for manufacturing The city-designated market value for the property in 2022 is $2.7 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 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 Richmond Hill, The bulk, or 26 percent of the 6.4 million square feet of commercial built space are industrial buildings, with specialty buildings next occupying 20 percent of the space. In sales, Richmond Hill has had very little sales volume relative to other neighborhoods with $132.4 million in sales volume in the last two years. For development, Richmond Hill has had very little major development activity relative to other neighborhoods.It had 207,633 square feet of commercial and multi-family construction under development in the last two years, which represents 3 percent of the neighborhood’s built space. There were 59 pre-foreclosure suit filed among other industrial buildings in the past 12 months.

The block

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

The majority, or 96 percent of the 54,374 square feet of built space are industrial buildings, with mixed-use buildings next occupying 4 percent of the space.

The buyer

The PincusCo database currently indicates that Medisys Health Network owned at least one commercial property in New York City with 20,865 square feet and a PincusCo-determined asset value of $10.5 million. The portfolio consists of at least a single office property.

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