Aronov Development Acquires Retail Building In Jamaica Estates For $7.7M From Khedouri Associates
181 08 Union Turnpike
$7,700,000
$592/SF
Building Size
13,000 SF
Asset Type
Retail
Closing
Jan 20, 2026
About this deal
AI
The retail building located at 181-08 Union Turnpike in Jamaica Estates spans 13,000 square feet and was sold for $7,700,000. The transaction took place on January 20, 2026, reflecting a price per square foot of $592.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $7,700,000
- Address: 181-08 Union Turnpike
- Market: Jamaica Estates, Queens
- Square Footage: 13,000
- Price per Square Foot: $592
- Buyer: Aronov Development
- Seller: Khedouri Associates
Aronov Development, through its entity 181-08 Union Turnpike LLC, facilitated the acquisition of the retail property, purchasing it from Khedouri Associates. The deal highlights the active participation of these two entities within the real estate market.
On the Map
$7,700,000
$592/SF
Retail
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Players
Fresh Meadows Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.06%
Cash-on-Cash
-0.59%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93