ZD Jasper pays $18.6M to Gadi Benhamo for dev site in Woodside, gets $66M construction loan

ZD Jasper Realty through the entity ZDJ 6411 QB LLC paid $18.6 million to Gadi Benhamo through the entity 64-11 Qb Owner LLC for the industrial building (G7) at 64-11 Queens Boulevard in Woodside, Queens. The expected use is ground up development.
The deal closed on August 25, 2025 and was recorded on September 10, 2025. The property has zero square feet of built space and 99,040 square feet of additional air rights for a total buildable of 99,040 square feet according to a PincusCo analysis of city data. The sale price per buildable square foot is $188 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 August 16, 2017, for $13.4 million. The signatory for Gadi Benhamo was Gadi Benhamo. The signatory for ZD Jasper Realty was Zhidong Wu . The contract date was February 25, 2025.

Prior sales and revenue

Prior to this transaction, PincusCo has records that the buyer ZD Jasper Realty purchased seven properties in six transactions for a total of $118.6 million and has no record it sold any properties over the past 24 months.
The seller Gadi Benhamo purchased one property in one transaction for a total of $2.7 million and had not sold any properties over the same time period.

The property

The parcel has frontage of 204 feet and is 100 feet deep with a total lot size of 19,808 square feet. The lot is irregular. The zoning is R7X which allows for up to 5 times floor area ratio (FAR) for residential with inclusionary housing. The city-designated market value for the property in 2022 is $5.9 million. Flushing Bank on November 10, 2021 bought a loan with an original principal of from signed by Gadi Benhamo, secured by 64-11 Queens Boulevard, when owned by Gadi Benhamo.

Violations and lawsuits

The property was involved in one lawsuit and zero bankruptcies over the past two years. The suit was a $25.7 million money judgment concerning a judgment filed on September 5, 2025, by Maverick Real Estate Partners against Gadi Ben-Hamo. In addition, according to city public data, the property has received $150 in OATH penalties in the last year.

Development

On the lot, there are two active new building construction projects and major alteration projects with initial costs more than $5 million, totaling 172,834 square feet. The largest, 421690138, is a new building project for a 122-unit, 98,571 square-foot R-2 building submitted by Mount Sinai Properties and filed by Aharon Benhamo with plans filed October 22, 2018 and it has not been permitted yet. The second largest, 421693233, is a new building project for a 94-unit, 74,263 square-foot R-2 building submitted by Mount Sinai Properties and filed by Aharon Benhamo with plans filed April 18, 2019 and permitted June 9, 2022.

The neighborhood

In Woodside, The bulk, or 27 percent of the 12.7 million square feet of commercial built space are industrial buildings, with elevator buildings next occupying 23 percent of the space. In sales, Woodside has had very little sales volume relative to other neighborhoods with $145.4 million in sales volume in the last two years. For development, Woodside has had very little major development activity relative to other neighborhoods.It had 418,349 square feet of commercial and multi-family construction under development in the last two years, which represents 3 percent of the neighborhood’s built space.

The block

On this tax block, PincusCo has identified the owners of three of the three commercial properties representing 11,760 square feet of the 11,760 square feet. The largest owner is Chetrit Group, followed by Nak Jin Bae Of Ji Hae Bae and then LIRR.
On the tax block, there were two new building construction projects totaling 172,834 square feet. The largest is a 122-unit, 98,571 square-foot residential (R-2) building submitted by Mount Sinai Properties and filed by Aharon Benhamo with plans filed October 22, 2018 and it has not been permitted yet. The second largest is a 94-unit, 74,263 square-foot residential (R-2) building submitted by Mount Sinai Properties and filed by Aharon Benhamo with plans filed April 18, 2019 and permitted June 9, 2022.

The majority, or 100 percent of the 11,760 square feet of built space are mixed-use buildings, with specialty buildings next occupying 0 percent of the space.

The seller

The PincusCo database currently indicates that Gadi Benhamo owned at least one commercial property in New York City with 0.0 square feet and a city-determined market value of $657,000. (Market value is typically about 50% of actual value.) The portfolio consists of at least a single industrial property.

The buyer

The PincusCo database currently indicates that ZD Jasper Realty owned at least 21 commercial properties with 484 residential units in New York City with 245,940 square feet and a city-determined market value of $57.7 million. (Market value is typically about 50% of actual value.) Within the portfolio, the bulk, or 48 percent of the 245,940 square feet of built space are industrial properties, with elevator properties next occupying 20 percent of the space. The bulk, or 80 percent of the built space, is in Queens, with Manhattan next at 20 percent of the space.

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