Vipal Patel pays $9.2M to Manmeet Singh for hotel in Bellerose Manor

Vipal Patel through the entity Jericho 249 Realty, LLC paid $9.2 million to Manmeet Singh through the entity Paras LLC for the hotel building (H4) at 249-05 Jericho Turnpike in Bellerose Manor, Queens. The expected use is cash flowing.
The deal closed on March 16, 2026 and was recorded on March 26, 2026. The property has 14,979 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $614 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 seller bought the property on March 2, 2018, for $7.8 million. The signatory for Manmeet Singh was Manmeet Singh. The signatory for Vipal Patel was Vipal Patel. The contract date was December 19, 2025.

Prior sales, articles and revenue

Prior to this transaction, PincusCo has no record that the buyer Vipal Patel had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Manmeet Singh 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 Manmeet Singh, head officer. The business entity is Bellerose Inn.

The property

The hotel building in Bellerose Manor has 14,979 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 100 feet and is 100 feet deep with a total lot size of 10,000 square feet. The zoning is R4 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 $3.4 million.

Transaction Participants

Manmohan K. Bakshi  participated in the transaction on behalf of the buyer .

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 $4,375 in ECB penalties and $24,375 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 Bellerose Manor, The majority, or 72 percent of the 3.2 million square feet of commercial built space are specialty buildings, with retail buildings next occupying 11 percent of the space. In sales, Bellerose Manor has the 47th highest sale turnover among other neighborhoods in Queens with $12 million in sales volume in the last two years. For development, Bellerose Manor has had very little major development activity relative to other neighborhoods.It had 61,250 square feet of commercial and multi-family construction under development in the last two years, which represents 2 percent of the neighborhood’s built space.

The block

On this tax block, PincusCo has identified the owners of one of the two commercial properties representing 14,979 square feet of the 15,963 square feet. The identified owner is Manmeet Singh.
There are no active new building construction projects on this tax block.

The majority, or 94 percent of the 15,963 square feet of built space are hotel buildings, with industrial buildings next occupying 6 percent of the space.

The seller

The PincusCo database currently indicates that Manmeet Singh owned at least one commercial property in New York City with 14,979 square feet and a city-determined market value of $2.9 million. (Market value is typically about 50% of actual value.) The portfolio consists of at least a single hotel property. It is located in Queens.

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