Ariel Jacobev Of Aviation Mall Holdings LLC Buys Retail Property In Queensbury For $21M
578 Aviation Road
$21,000,000
Building Size
—
Asset Type
Retail
Closing
Sep 10, 2025
AI
The property asset involved in the transaction is a retail space located at 578 Aviation Road in the Queensbury market. The sale was completed for $21,000,000.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $21,000,000
- Buyer: The Pyramid Cos
- Seller: Ariel Jacobev - Aviation Mall Holdings LLC
- Sale Date: 09/10/2025
A Massachusetts-based Pyramid Cos. previously lost the Aviation Mall to foreclosure, which led to the property being sold at public auction to real estate investor Ariel “Eric” Jacobev and his group, Aviation Mall Holdings LLC.
Players
Queensbury 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
0.76%
Cash-on-Cash
-0.22%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93