Ridwan Kabir files plans for 36-unit building in Jamaica Estates

Ridwan Kabir submitted a new building construction project for a 36-unit, 27,878 square-foot residential (R-2) building at 177-06 Wexford Terrace in Jamaica Estates, Queens. The plan was filed with the New York City Department of Buildings on May 13, 2024 under job number Q01049852. It calls for the construction of a nine-story building. The project is described in the filing as: filing nine-story, multifamily building with 36 dwelling units, one community facility at cellar, seven low income units and 29 market-rate units. The architect is Angelo Ng + Anthony Ng Architects.

The property

The parcel has frontage of 47 feet and is 130 feet deep with a total lot size of 6,109 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 $489,000.

Prior sales and revenue

This property was sold by Mohammed Nuruddin|Nafees Nuruddin for $2.4 million to Ridwan Kabir on June 26, 2023.

Violations and lawsuits

According to city public data, the property has received $2,400 in OATH penalties in the last year.

There were no lawsuits or bankruptcies filed against the property for the past 24 months.

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 near average sales volume among other neighborhoods with $28.5 million in sales volume in the last two years and is the 42nd highest in Queens. For development, Jamaica Estates has near average amount of major developments among other neighborhoods and is the 37th highest in Queens. It had 107,562 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 this tax block, PincusCo has identified the owners of five of the seven commercial properties representing 127,669 square feet of the 185,219 square feet. The largest owner is Jay Weitzman, followed by Noorollah Asherian and then Ridwan Kabir. On the tax block, there were two new building construction projects totaling 52,885 square feet. The largest is a 36-unit, 27,878 square-foot residential (R-2) building submitted by Ridwan Kabir and filed by Ridwan Kabir with plans filed May 13, 2024 and it has not been permitted yet. The second largest is a 24-unit, 25,007 square-foot residential (R-2) building submitted by Mirza Rahman and filed by Mirza Rahman with plans filed March 28, 2019 and it has not been permitted yet.

The owner

The PincusCo database currently indicates that Ridwan Kabir owned at least six commercial properties with 24 residential units in New York City with 16,548 square feet and a city-determined market value of $3.9 million. (Market value is typically about 50% of actual value.) Within the portfolio, the bulk, or 89 percent of the 16,548 square feet of built space are walkup properties, with industrial properties next occupying 11 percent of the space. They are all located in Queens.

The surrounding

Within a 400-foot radius of 177-06 87 Drive, PincusCo identified one commercial real estate item of interests occurred over the past 24 months. It was a loan which Noorollah Asherian borrowed $5.8 million from TD Bank secured by the 20,636-square-foot, 21-unit rental (D6) on 177-16 87th Drive on June 27, 2022.

Direct link to the property’s ACRIS page and link to DOB NOW portal.