Swaran Singh pays $3.6M for 20-unit rental in Elmhurst

Swaran Singh through the entity Van Horn Street LLC paid $3.6 million to Paul Alicanti through the entity Arp, Inc. for the 20-unit residential elevator building (D9) at 86-02 57th Avenue in Elmhurst, Queens. The expected use is cash flowing.
The deal closed on February 19, 2026 and was recorded on February 26, 2026. The property has 11,399 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $319 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 Paul Alicanti was Paul Alicanti. The signatory for Swaran Singh was Swaran Singh. The contract date was October 10, 2025.

Prior sales, articles and revenue

Prior to this transaction, PincusCo has no record that the buyer Swaran Singh had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Paul Alicanti 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 Paul Alicanti, head officer and Albert Alicanti, officer. The business entity is Arp Inc. The 11,399-square-foot property generated revenue of $398,919 or $35 per square foot, according to the most recent income and expense figures.

The property

The residential elevator building with 20 residential units in Elmhurst has 11,399 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 50 feet and is 100 feet deep with a total lot size of 5,000 square feet. The zoning is R5 which allows for up to 1.25 times floor area ratio (FAR) for residential. The city-designated market value for the property in 2022 is $2.4 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 $620 in ECB penalties and $620 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 block

On this tax block, PincusCo has identified the owners of one of the two commercial properties representing 11,399 square feet of the 13,879 square feet. The identified owner is Paul Alicanti.
There are no active new building construction projects on this tax block.

The majority, or 82 percent of the 13,879 square feet of built space are elevator buildings, with mixed-use buildings next occupying 18 percent of the space.

The seller

The PincusCo database currently indicates that Paul Alicanti owned at least one commercial property with 20 residential units in New York City with 11,399 square feet and a city-determined market value of $2.1 million. (Market value is typically about 50% of actual value.) The portfolio consists of at least a single elevator property. It is located in Queens.

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