Nonprofit pays $7M to Kandov, Teitz for dev site in Jamaica Estates

The nonprofit Ohel Children’s Home and Family Services through the entity 185 Hillside Housing Development Fund Corporation paid $7 million to Eduard Kandov and Elijohu Teitz through the entity 18517 Hillside LLC for the specialty building (I9) at 185-17 Hillside Avenue in Jamaica Estates, Queens. The expected use is owner-occupied ground up development.

According to the Ohel website, the organization provides social services and mental health services in the New York metropolitan area, as well as nationally, in Israel and elsewhere.
The deal closed on March 27, 2025 and was recorded on May 9, 2025. The property has 1,680 square feet of built space and 62,240 square feet of additional air rights for a total buildable of 64,000 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $4,196 and the price per buildable square foot is $110 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 seller bought the property on March 25, 2014, for $3.2 million. The signatory for Eduard Kandov and Elijohu Teitz was Eduard Kandov and Elijohu A. Teitz . The signatory for Ohel Children’s Home and Family Services was Adam Lancer . The contract date was May 24, 2024.

Prior sales and revenue

Prior to this transaction, PincusCo has no record that the buyer Ohel Children’s Home and Family Services had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Eduard Kandov had not purchased any other properties and had not sold any properties over the same time period.

The property

The specialty building in Jamaica Estates has 1,680 square feet of built space and 62,240 square feet of additional air rights for a total buildable of 64,000 square feet according to a PincusCo analysis of city data. The parcel has frontage of 100 feet and is 160 feet deep with a total lot size of 16,000 square feet. The zoning is R7A which allows for up to 4 times floor area ratio (FAR) for residential with inclusionary housing. The city-designated market value for the property in 2022 is $611,000.

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 received $150 in OATH penalties 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 Estates, The majority, or 58 percent of the 2.7 million square feet of commercial built space are elevator buildings, with specialty buildings next occupying 14 percent of the space. In sales, Jamaica Estates has the 28th highest sale turnover among other neighborhoods in Queens with $41.8 million in sales volume in the last two years. For development, Jamaica Estates has had very little major development activity relative to other neighborhoods.It had 49,345 square feet of commercial and multi-family construction under development in the last two years, which represents 2 percent of the neighborhood’s built space.

The block

On this tax block, PincusCo has identified the owners of two of the four commercial properties representing 98,565 square feet of the 102,325 square feet. The two identified owners are Bruce Rabiner and Reja Farhad.
There are no active new building construction projects on this tax block.

The majority, or 93 percent of the 102,325 square feet of built space are elevator buildings, with retail buildings next occupying 5 percent of the space.

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