Nemat Development Acquires Development Site In Woodside, Queens For $2.73M

Anand Melwani & Alexandre Goulet of ARM Real Estate Group LLC represented both the buyer and the seller in the sale of a development site located at 65-25 Queens Blvd in Woodside, Queens. The property, which has a zoning of R7X and C2-3, was sold by Varj Properties LLC, owned by Shnoor Varjebedian, to Nemat Development, represented by Ted Kashi. The transaction closed on October 2, 2020, with a sale price of $2,730,000. The development site has a building square footage (BSF) of 20,000.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $2,730,000
• Address: 65-25 Queens Blvd
• Market: Woodside, Queens
• Zoning: R7X, C2-3
• Seller: Varj Properties LLC – Shnoor Varjebedian
• Buyer: Nemat Development – Ted Kashi
• Brokers: Anand Melwani & Alexandre Goulet – ARM Real Estate Group LLC
• Building Square Footage (BSF): 20,000

This transaction was facilitated by Anand Melwani and Alexandre Goulet of ARM Real Estate Group LLC, who represented both the buyer and the seller. The development site located at 65-25 Queens Blvd in Woodside, Queens, had a sale price of $2,730,000. Nemat Development, led by Ted Kashi, purchased the property from Varj Properties LLC, owned by Shnoor Varjebedian. The property has a zoning of R7X and C2-3, and a total building square footage (BSF) of 20,000.