RK Capital, partners, pay $5.3M for mixed-use in Corona

RK Capital, Rafik Koptiev, and Bella Koptiev through the entity 1070 Dekalb Avenue LLC paid $5.3 million through an estate sale to Iosub Zaharia through the entity Estate Of Iosub Zaharia, Deceased for the two-unit mixed-use building (K4) at 40-23 and 40-25 Junction Boulevard in Corona, Queens. The expected use is cash flowing.
The deal closed on May 8, 2025 and was recorded on May 16, 2025. The property has 9,951 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $531 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 Iosub Zaharia was Rodica Axelrad and Sandy Axelrad. The signatory for RK Capital, Rafik Koptiev, and Bella Koptiev was Uri Koptiev . The contract date was March 13, 2025.

Prior sales and revenue

Prior to this transaction, PincusCo has no record that the buyer RK Capital had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Iosub Zaharia had not purchased any other properties and had not sold any properties over the same time period. The former owners according to the Department of Housing Preservation and Development includes Sandy Axelrad, head officer and Rodica Axelrad, shareholder. The business entity is Sandy Axelrad For Junction Corner Llc. The 9,951-square-foot property generated revenue of $406,100 or $41 per square foot, according to the most recent income and expense figures.

The property

The mixed-use building with 2 residential units in Corona has 9,951 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 50 feet and is 86 feet deep with a total lot size of 4,348 square feet. The lot is irregular. The zoning is R6B which allows for up to 2 times floor area ratio (FAR) for residential with inclusionary housing. The city-designated market value for the property in 2022 is $2 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 received $25 in OATH penalties 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 Corona, The bulk, or 48 percent of the 12.2 million square feet of commercial built space are elevator buildings, with walkup buildings next occupying 15 percent of the space. In sales, Corona has had very little sales volume relative to other neighborhoods with $157.6 million in sales volume in the last two years. For development, Corona has had very little major development activity relative to other neighborhoods.It had 625,297 square feet of commercial and multi-family construction under development in the last two years, which represents 5 percent of the neighborhood’s built space.

The block

On this tax block, PincusCo has identified the owners of one of the 37 commercial properties representing 9,951 square feet of the 131,564 square feet. The identified owner is Rafik Koptiev.
There are no active new building construction projects on this tax block.

The majority, or 40 percent of the 131,564 square feet of built space are walkup buildings, with mixed-use buildings next occupying 36 percent of the space.

The buyer

The PincusCo database currently indicates that Rafik Koptiev owned at least one commercial property with two residential units in New York City with 9,951 square feet and a city-determined market value of $1.8 million. (Market value is typically about 50% of actual value.) The portfolio consists of at least a single mixed-use property. It is located in Queens.
The PincusCo database currently indicates that Rk Capital owned at least one commercial property with two residential units in New York City with 9,951 square feet and a city-determined market value of $1.8 million. (Market value is typically about 50% of actual value.) The portfolio consists of at least a single mixed-use property. It is located in Queens.
The PincusCo database currently indicates that Bella Koptiev owned at least one commercial property with two residential units in New York City with 9,951 square feet and a city-determined market value of $1.8 million. (Market value is typically about 50% of actual value.) The portfolio consists of at least a single mixed-use property. It is located in Queens.

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