KRCM 1 Realty Corp files Chapter 11 over Jamaica Avenue condo

KRCM 1 Realty Corp filed for Chapter 11 bankruptcy protection on October 23 in the U.S. Bankruptcy Court for the Eastern District of New York, docket number 1-26-44940.

Property records pulled directly from the city’s ACRIS database tie the entity to a commercial condominium unit at 196-11 Jamaica Avenue in Queens, block 10464, lot 44. The unit carries a mortgage consolidation of $12,600,000, recorded June 22, 2022 under CRFN 2022000246630, with an original document date of May 17, 2022. ACRIS lists KRCM 1 Realty Corp’s address as 31 Amber Lane in Oyster Bay Cove, New York, the same Long Island address tied to the company in its Legal Entity Identifier registration, where Rajmattie Persaud is named.

The filing follows the same pattern as other entities carrying the KRCM name. A related company, KRCM Astoria Portfolio Corp, filed its own Chapter 11 case in the same Brooklyn courthouse in October 2025 over three Astoria apartment buildings, listing Persaud as its sole equity holder and manager. Another, KRCM Realty Company Inc, filed Chapter 11 in August 2026 from the same Oyster Bay Cove address. Whether the KRCM 1 filing was triggered by the same financial pressure facing those entities, or by something specific to the Jamaica Avenue asset, is not yet stated in the public docket.

Why it matters

A Chapter 11 filing against the holding entity for a commercial condo puts a stay on any foreclosure action against 196-11 Jamaica Avenue while the case proceeds, freezing whatever collection steps a lender may have been taking on the $12.6 million loan. For a corridor like Jamaica Avenue, where small commercial condo units change hands and finance quietly, a bankruptcy filing is one of the few moments the ownership and debt structure becomes public at all.

The numbers

• Filing date: October 23, 2026
• Case number: 1-26-44940, Bankr. E.D.N.Y.
• Mortgage consolidation on the Jamaica Avenue unit: $12.6M (recorded June 22, 2022)
• Block and lot: 10464 / 44, Queens

What’s next

The case will proceed under Chapter 11 supervision in Brooklyn, where KRCM 1 Realty Corp is expected to file schedules of assets and liabilities and a proposed reorganization plan. Those filings, once docketed, would be the first public look at what the company owes beyond the Jamaica Avenue mortgage and whether it holds other property. For more on how distress is moving through New York City real estate, see our New York market coverage.