RJ Capital pays $3.3M for corner next to its larger retail property in Briarwood

RJ Capital Holdings through the entity RJ Blvd III LLC paid $3.3 million to Ira Gross through the entity Moip Massapequa, LLC Successor-In-Interest To Moip for the corner retail building (K1) at 138-43 Queens Boulevard in Briarwood, Queens.
The deal closed on June 24, 2021 and was recorded on July 1, 2021.
The property has 3,075 square feet of built space and 13,948 square feet of additional air rights for a total buildable of 17,010 square feet according to PincusCo analysis of city data. The sale price per built square foot is $1,073 and the price per buildable square foot is $194 per the PincusCo analysis.
The signatory for Ira Gross was Ira Gross. The signatory for RJ Capital Holdings was Rudolf Abramov.

RJ Capital paid $12.95 million for an adjacent parcel in September 2020.

RJ Capital recently acquired a parcel in a joint venture and plans to build condos and affordable rentals in Forest Hills.

Within a 400-foot radius of 138-43 Queens Boulevard, PincusCo identified three commercial real estate items of interests occurred over the past 24 months.
Of those three items, one was in new building development. It was a new building permit issued on September 9, 2019 for a 49,785-square-foot residential R-2 building with 64 residential units at 138-28 Queens Boulevard.
Of those three items, one was for major renovation including a certificate of occupancy change. It was a permit application filed on March 15, 2021 for the $3.5 million renovation of 28,465-square-foot hotel R-1 building at 138-50 Queens Boulevard.
One of those three items was a sale which SYU Properties bought the 17,175-square-foot, four-unit retail building (K1) on 138-23 Queens Boulevard for $13 million from Martin Goodstein and Ivan Goodstein on September 11, 2020.

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