Singh & Bhandal pays $7.8M for 2 industrial properties in Arverne

Singh & Bhandal through the entity Singh And Bhandal LLC paid $7.8 million to Kenneth Segal, Estelle Aryeh and Elazar Aryeh through the entity BH Rock LLC (and others) for industrial (F5) at 50-01 Rockaway Beach Blvd in Arverne, Queens, and industrial (G7) at 49-17 Rockaway Beach Blvd in Arverne, Queens.
The deal closed on April 9, 2021 and was recorded on April 30, 2021.
The two properties have 43,630 square feet of built space and 11,529 square feet of additional air rights for a total buildable of 55,223 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $177 and the price per buildable square foot is $140 per the PincusCo analysis.
The signatories for the sellers were Kenneth Segal, Estelle Aryeh and Elazar Aryeh. The signatory for Singh & Bhandal was Jorawar Singh.

The contract date was February 25, 2021.

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