Prabjit Singh pays $5.3M to Alain Liebermann for four properties in Arverne

Prabjit Singh through the entity 7424 Almeda LLC paid $5.3 million to Alain Liebermann through the entity Almeda Ave Property LLC for the property (Z9) at 72-58 Elizabeth Avenue, a vacant lot (V1) at 74-24 Almeda Avenue, and another specialty property (Q8) on Burchell Avenue in Arverne, Queens.
The deal closed on March 12, 2026 and was recorded on March 18, 2026. The four properties have 450 square feet of built space and 28,038 square feet of additional air rights for a total buildable of 28,475 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $11,777 and the price per buildable square foot is $186 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 Alain Liebermann was Alain Liebermann. The signatory for Prabjit Singh was Prabjit Singh. The contract date was December 1, 2024.

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 72-58 Elizabeth Avenue.

Prior sales, articles and revenue

Prior to this transaction, PincusCo has no record that the buyer Prabjit Singh had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Alain Liebermann had not purchased any other properties and had not sold any properties over the same time period.

The property

The specialty building in Arverne has 450 square feet of built space and 28,038 square feet of additional air rights for a total buildable of 28,475 square feet according to a PincusCo analysis of city data. The parcel has frontage of 194 feet and is 100 feet deep with a total lot size of 21,850 square feet. The lot is irregular. The zoning is C3 which allows for up to 0.5 times floor area ratio (FAR) for commercial and up to 0.5 times FAR for residential. The city-designated market value for the property in 2022 is $397,000.

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 received $1,500 in ECB penalties and $4,050 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 Arverne, The bulk, or 38 percent of the 1.3 million square feet of commercial built space are specialty buildings, with elevator buildings next occupying 33 percent of the space. In sales, Arverne has the 42nd highest sale turnover among other neighborhoods in Queens with $22.6 million in sales volume in the last two years. For development, Arverne has had very little major development activity relative to other neighborhoods.It had 247,319 square feet of commercial and multi-family construction under development in the last two years, which represents 18 percent of the neighborhood’s built space.

The block

On the tax block of 72-58 Elizabeth Avenue, PincusCo has identified the owners of one of the eight commercial properties representing 450 square feet of the 4,909 square feet. The identified owner is Alain Liebermann.
On the tax block, there were five new building construction projects totaling 9,399 square feet. The largest is a two-unit, 2,828 square-foot residential (R-3) building submitted by Salvatore D’Avola with plans filed January 26, 2022 and it has not been permitted yet. The second largest is a two-unit, 2,079 square-foot residential (R-3) building submitted by Yakov Albaliya with plans filed September 20, 2023 and permitted February 27, 2024.

The majority, or 91 percent of the 4,909 square feet of built space are industrial buildings, with specialty buildings next occupying 9 percent of the space.

The seller

The PincusCo database currently indicates that Alain Liebermann owned at least two commercial properties with eight residential units in New York City with 5,876 square feet and a city-determined market value of $2.7 million. (Market value is typically about 50% of actual value.) Within the portfolio, the bulk, or 100 percent of the 5,876 square feet of built space are walkup properties, with specialty properties next occupying 0 percent of the space. They are all located in Brooklyn.

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