Ridwan Kabir pays $9.7M for three properties in Jamaica

Ridwan Kabir through the entity Columnae Development LLC paid $9.7 million to Maria Sinanis and Paul Sinanis for the gas station property (G4) at 166-10 Hillside Avenue in Jamaica, Queens, industrial (G7) at 87-81 Merrick Boulevard in Jamaica, Queens, and industrial (G7) at N/A Merrick Boulevard in Jamaica, Queens.
The deal closed on October 21, 2021 and was recorded on November 5, 2021.
The three properties have 1,829 square feet of built space and 93,902 square feet of additional air rights for a total buildable of 95,750 square feet according to PincusCo analysis of city data. The sale price per built square foot is $5,303 and the price per buildable square foot is $101 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 Maria Sinanis and Paul Sinanis was Maria Sinanis and Paul Sinanis. The signatory for Ridwan Kabir was Ridwan Kabir.

Within a 400-foot radius of 87-81 Merrick Boulevard, PincusCo identified four commercial real estate items of interests occurred over the past 24 months.
Of those four items, one was in new building development. It was a new building permit issued on November 29, 2019 for a 13,353-square-foot B building at 167-14 Hillside Avenue.
Of those four items, two were for major renovation including a certificate of occupancy change. They were one permit applications with a total initial cost of $283,550 and one permit with a total initial cost of $304,000. The most recent of these two items was the permit on June 2, 2021 for a 2,602-square-foot B building with no residential units at 165-23 Hillside Avenue.
One of those four items was a loan which Zara Realty Holding borrowed $54 million from Northern Trust Company secured by the 99,344-square-foot, 136-unit rental (D3) on 166-33 89th Avenue and one other property on December 24, 2020.

Direct link to Acris document. link