Shalender Anand pays $1.1M for 6-unit walkup in Woodside

Shalender Anand through the entity 65th St Woodside LLC paid $1.1 million to Kou Wang Rutman through the entity New Life 21, Inc. for the six-unit residential walkup building (C2) at 39-37 65th Street in Woodside, Queens.
The deal closed on November 9, 2023 and was recorded on November 20, 2023. The property has 4,110 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $267 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 Kou Wang Rutman was Kou Wang Rutman. The signatory for Shalender Anand was Shalender Anand. The contract date was September 22, 2023.

Prior sales and revenue

Prior to this transaction, PincusCo has no record that the buyer Shalender Anand had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Kou Wang Rutman had not purchased any other properties and had not sold any properties over the same time period. The former owner according to the Department of Housing Preservation and Development is Konnie Rutman, head officer. The business entity is New Life 21 Inc.

The property

The residential walkup building with 6 residential units in Woodside has 4,110 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 20 feet and is 87 feet deep with a total lot size of 1,858 square feet. The lot is irregular. The zoning is R4-1 which allows for up to 0.75 times floor area ratio (FAR) for residential. The city-designated market value for the property in 2022 is $681,000.

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 four housing 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 block

On this tax block, PincusCo has identified the owners of two of the five commercial properties representing 46,268 square feet of the 81,694 square feet. The two identified owners are Konnie Rutman and A&E Real Estate Holdings.
There are no active new building construction projects on this tax block.

The majority, or 52 percent of the 81,694 square feet of built space are elevator buildings, with walkup buildings next occupying 48 percent of the space.

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