RJ Capital pays $13M for retail in Briarwood

RJ Capital Holdings through the entity RJ Blvd LLC paid Martin Goodstein and Ivan Goodstein’s Briar MG, LLC $13 million for 138-23 Queens Boulevard in Briarwood. The deal closed on September 10, 2020, and was recorded on September 11, 2020. The transaction consists of 1 parcel, including the tax class one-story store building (K1). The property is 17,175 square feet. The parcel(s) have total development potential of 73,364 square feet.
The average sale price per square foot is $177.

The buyers are two RJ Capital entities that acquired it under a tenant-in-common arrangement. The principals of RJ Capital Holdings are Rudy and Michael Abramov. The buyer signatory was Sam Sontag, a 1031 intermediary.

Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

Correction: An earlier version of this post incorrectly identified the buyer. The buyer was RJ Capital Holdings and not the Alishaev brothers’ SYU Properties, as previously reported. SYU was the contract vendee and assigned its rights to RJ Capital which closed on the property.