Yaakov Stern pays $7.5M to Miller & Miller for 66-unit rental in Elmhurst

Yaakov Stern through the entity Yrsy LLC paid $7.5 million to Miller & Miller Real Estate through the entity 86-15 Realty Co., LLC for the 66-unit residential elevator building (D1) at 86-15 Elmhurst Avenue in Elmhurst, Queens. The expected use is cash flowing.
The deal closed on August 28, 2025 and was recorded on September 10, 2025. The property has 66,000 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $112 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 Miller & Miller Real Estate was Robert L. Miller . The signatory for Yaakov Stern was Yaakov Stern. The contract date was May 1, 2025.

The sale was brokered by Rosewood Realty Group’s Aaron Jungreis, Ben Khakshoor and Alex Fuchs.

Prior sales and revenue

Prior to this transaction, PincusCo has no record that the buyer Yaakov Stern had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Miller & Miller Real Estate 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 Tamora Miller, head officer and Robert Miller, officer. The business entities are B & R Management Co. Llc and 8615 Realty Co. Llc. The 66,000-square-foot property generated revenue of $996,600 or $15 per square foot, according to the most recent income and expense figures.

The property

The residential elevator building with 66 residential units in Elmhurst has 66,000 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 150 feet and is 95 feet deep with a total lot size of 14,250 square feet. The zoning is R7B which allows for up to 3 times floor area ratio (FAR) for residential. The city-designated market value for the property in 2022 is $3.4 million. The property has 64 rent regulated units according to city tax records from 2023.

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 32 housing violations and $650 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 three of the six commercial properties representing 69,918 square feet of the 156,471 square feet. The largest owner is A&E Real Estate Holdings, followed by Werber Management and then John Milevoi.
There are no active new building construction projects on this tax block.

The majority, or 78 percent of the 156,471 square feet of built space are elevator buildings, with walkup buildings next occupying 22 percent of the space.

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