Avi Hiaeve Of Avi & Co Purchases Retail Property In Jamaica Estates For $13 Million
188-02 Union Turnpike
$13,000,000
$411/SF
Building Size
31,560 SF
Asset Type
Retail
Closing
Oct 7, 2026
About this deal
AI
Avi Hiaeve purchased a retail building located at 188-02 Union Turnpike in Jamaica Estates, Queens. The transaction was valued at $13 million, encompassing a total area of 31,560 square feet, yielding a price per square foot of $412.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $13,000,000
- Square Footage: 31,560
- Price per Square Foot: $412
- Buyer: Avi Hiaeve - Avi & Co
- Seller: Rivoli Realty Corp
Avi Hiaeve is the founder of the watch and jewelry retailer Avi & Co. This transaction reflects his acquisition of the property from Rivoli Realty Corp.
On the Map
$13,000,000
$411/SF
Retail
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Players
Turnpike 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
1.22%
Cash-on-Cash
-0.35%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93