Naresh Kumar pays $4.5M to Miroslaw Kuchta for industrial in South Richmond Hill

Naresh Kumar through the entity Madaan Properties LLC paid $4.5 million to Miroslaw Kuchta for the industrial building (E1) at 105-22 101st Avenue and the industrial building (F4) at 105-30 101st Avenue in South Richmond Hill, Queens. The expected use is cash flowing.
The deal closed on August 21, 2025 and was recorded on September 15, 2025. The two properties have 10,330 square feet of built space and 9,622 square feet of additional air rights for a total buildable of 19,938 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $430 and the price per buildable square foot is $223 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 Miroslaw Kuchta was Miroslaw Kuchta. The contract date was March 31, 2025.

Because multiple properties have been transacted, some of the following sections will follow the property with the largest assessed value, which in this case, is the property on 105-22 101st Avenue.

Prior sales and revenue

Prior to this transaction, PincusCo has no record that the buyer Naresh Kumar had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Miroslaw Kuchta had not purchased any other properties and had not sold any properties over the same time period. The two properties with a total of 10,330 square feet of built space generated revenue of $150,225 per year or $15 per square foot. The sale price per square foot was $431.

The property

The industrial building in South Richmond Hill has 10,330 square feet of built space and 9,622 square feet of additional air rights for a total buildable of 19,938 square feet according to a PincusCo analysis of city data. The parcel has frontage of 50 feet and is 100 feet deep with a total lot size of 4,964 square feet. The lot is irregular. The zoning is R6B which allows for up to 2 times floor area ratio (FAR) for residential with inclusionary housing. The city-designated market value for the property in 2022 is $467,000.

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 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 South Richmond Hill, The bulk, or 49 percent of the 2.3 million square feet of commercial built space are mixed-use buildings, with walkup buildings next occupying 15 percent of the space. In sales, South Richmond Hill has the 31st highest sale turnover among other neighborhoods in Queens with $37.7 million in sales volume in the last two years. For development, South Richmond Hill has had very little major development activity relative to other neighborhoods.It had 85,189 square feet of commercial and multi-family construction under development in the last two years, which represents 4 percent of the neighborhood’s built space.

The block

On the tax block of 105-22 101st Avenue, PincusCo has identified the owners of one of the nine commercial properties representing 15,200 square feet of the 37,844 square feet. The identified owner is Harbans Singh.
There are no active new building construction projects on this tax block.

The majority, or 51 percent of the 37,844 square feet of built space are mixed-use buildings, with industrial buildings next occupying 27 percent of the space.

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