Zaki Turkien pays $4.3M to Shahen Guiragossian for ground-leased fee in Corona

Zaki Turkien through the entity Marino Realty NY LLC paid Shahen Guiragossian’s Guiragossian, Shahen $4.3 million for 112-22 Roosevelt Avenue in Corona. The deal closed on July 15, 2020, and was recorded on July 29, 2020. The transaction consists of 1 parcel, including the tax class transient occupancy hotel (H3). The property is 38,798 square feet. The parcel(s) have total development potential of 38,798 square feet.

The contract date was May 10, 2020. This is for the ground-leased fee. The building is leased with a 49-year term starting in January 2013. The tenant is controlled by Prakashkumar G. Patel.
The DOB issued a new construction (NB) initial temporary certificate of occupancy for the building with 90 residential (or hotel) units on July 17, 2015.
Over the past five years, there has been one NYC Department of Buildings permit application filed for this parcel valued at more than $20,000. There was one renovation/alteration project (A2) applied for with a total estimated value of $63,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link