Ridwan Kabir pays $4.3M for office in Hollis

Ridwan Kabir through the entity 189 Hillside Plaza LLC paid $4.3 million to Shahid Ali through the entity Abpc LLC for the office building (O2) at 189-10 Hillside Avenue in Hollis, Queens.
The deal closed on May 29, 2026 and was recorded on June 23, 2026. The property has 17,600 square feet of built space and 14,598 square feet of additional air rights for a total buildable of 32,202 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $244 and the price per buildable square foot is $133 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 September 23, 2020, for $4.5 million. The signatory for Shahid Ali was Shahid Ali. The signatory for Ridwan Kabir was Ridwan Kabir. The contract date was January 6, 2026.

Prior sales, articles and revenue

Prior to this transaction, PincusCo has no record that the buyer Ridwan Kabir had purchased any other properties and sold one property in one transaction for a total of $3.6 million over the past 24 months.
The seller Shahid Ali had not purchased any other properties and had not sold any properties over the same time period. The 17,600-square-foot property generated revenue of $539,616 or $31 per square foot, according to the most recent income and expense figures.

The property

The office building in Hollis has 17,600 square feet of built space and 14,598 square feet of additional air rights for a total buildable of 32,202 square feet according to a PincusCo analysis of city data. The parcel has frontage of 100 feet and is 112 feet deep with a total lot size of 10,734 square feet. The lot is irregular. The zoning is R6A which allows for up to 3 times floor area ratio (FAR) for residential with inclusionary housing. The city-designated market value for the property in 2022 is $2.9 million.

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 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 Hollis, The bulk, or 27 percent of the 4.5 million square feet of commercial built space are industrial buildings, with elevator buildings next occupying 22 percent of the space. In sales, Hollis has the 34th highest sale turnover among other neighborhoods in Queens with $33.5 million in sales volume in the last two years. For development, Hollis has had very little major development activity relative to other neighborhoods.It had 33,519 square feet of commercial and multi-family construction under development in the last two years, which represents 0.75 percent of the neighborhood’s built space.

The block

On the tax block, there was one new building construction project filed totaling 16,751 square feet. It is a 12-unit, 16,751 square-foot residential (R-2) building submitted by Sherajul Islam with plans filed January 23, 2019 and it has not been permitted yet.

The majority, or 79 percent of the 22,370 square feet of built space are office buildings, with specialty buildings next occupying 19 percent of the space.

The buyer

The PincusCo database currently indicates that Ridwan Kabir owned at least five commercial properties with 24 residential units in New York City with 16,548 square feet and a PincusCo-determined asset value of $8 million. Within the portfolio, the bulk, or 88 percent of the 16,548 square feet of built space are walkup properties, with industrial properties next occupying 11 percent of the space.

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