Chris Xu Acquires Commercial Property In Hunters Point, Queens For $40.1M

A commercial property located at 42-61 24th Street & n/a 24th Street in Hunters Point, Queens, has been sold in a recent transaction. The property is zoned as M1-5/R9, M1-5/R7-3, LIC and offers a total square footage of 76,076. The sale, facilitated by Chris Xu, took place on January 26, 2022, with Avrohom Becker acting as the seller. The transaction price was $40,100,000, with a price per square foot of $527. The property has a building square footage of 155,664, resulting in a price per building square foot of $257. The lot size is approximately 18,200 square feet, with dimensions of 150 feet by 140.42 feet. This sale was authorized under Tax Class 4 and had a permitted alteration on October 17, 2018.

Summary of transaction details:

• Property Type: Commercial
• Transaction Amount: $40,100,000
• Market: Hunters Point, Queens
• Zoning: M1-5/R9, M1-5/R7-3, LIC
• Square Footage: 76,076
• Price per Square Foot: $527
• Building Square Footage: 155,664
• Price per Building Square Foot: $257
• Lot Size: 18,200 square feet
• Lot Dimension: 150 ft x 140.42 ft

Chris Xu represented the buyer, while Avrohom Becker acted as the seller in this transaction. The property offers a FAR (Floor Area Ratio) of 4.18 and was previously permitted for an alteration on October 17, 2018.