Remica Property pays $8.5M to Heron for retail in Queens Village

Remica Property Group through the entity Remica Holdings, LLC paid $8.5 million to Heron Real Estate through the entity Wf Jamaica LLC for retail building (K7) at 214-44 Jamaica Avenue in Queens Village, Queens and retail building (K7) at 214-32 Jamaica Avenue in Queens Village, Queens. This is the first purchase for the company in the past two years.
The deal closed on October 28, 2021 and was recorded on November 30, 2021.
The two properties have 5,750 square feet of built space and 17,486 square feet of additional air rights for a total buildable of 23,301 square feet according to PincusCo analysis of city data. The sale price per built square foot is $1,478 and the price per buildable square foot is $364 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 Heron Real Estate was Roee Wiczyk. The signatory for Remica Property Group was Ellen R. Roizen.
(420006816)The DOB issued a new construction (NB) initial temporary certificate of occupancy for the building on November 27, 2013. (420006816) Plans for a 3,848 square-foot commercial (B) were filed on April 16, 2009 and were permitted on November 4, 2009.
Within a 400-foot radius of 214-32 Jamaica Avenue, PincusCo identified one commercial real estate item of interests occurred over the past 24 months.
It was a sale which Juliana Porotsky and Sergey Porotsky bought the 20,136-square-foot, one-unit retail building (K1) on 214-50 Jamaica Avenue for $7.1 million from RW Real Estate Group and Mark Reichenbaum on December 23, 2019.

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