Prabjit Singh Acquires Three Arverne Properties From Alain Liebermann For $5.3 Million
72-58 Elizabeth Avenue & 74-24 Almeda Avenue
$5,300,000
Building Size
—
Asset Type
Land
Closing
Mar 12, 2026
About this deal
AI
A vacant lot located at 72-58 Elizabeth Avenue and 74-24 Almeda Avenue in Arverne, Queens, was involved in a sale transaction. The sale was executed for a total price of $5,300,000, encompassing an aggregate square footage of 28,475, resulting in a price per square foot (PPBSF) of $186.
Summary of transaction details:
- Property Type: Vacant Lot
- Transaction Amount: $5,300,000
- Address: 72-58 Elizabeth Avenue & 74-24 Almeda Avenue
- Market: Arverne, Queens
- BSF: 28,475
- PPBSF: $186
- Buyer: Prabjit Singh
- Seller: Alain Liebermann
Prabjit Singh, via 7424 Almeda LLC, purchased three properties from Alain Liebermann, which included the vacant lots as well as a specialty property located on Burchell Avenue, conducted as part of a larger transaction.
Players
Arverne Land Market Snapshot
Boundary boundary · Land · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.99%
Cash-on-Cash
-0.86%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93