George Xu Acquires Commercial Property In Hunters Point, Queens For $4.24M

The property asset involved in the transaction is located at 45-28 21st Street in the Hunters Point market of Queens. The commercial property was sold for $4,240,000. It has a building square footage of 12,150 and a total square footage of 4,496, giving it a price per building square foot of $348 and a price per square foot of $943. The property is zoned under R6A, C1-5, and LIC with a Floor Area Ratio (FAR) of 1.11. The tax class is classified as 4, situated on a lot size of 4,050 with dimensions of 45 ft by 89.72 ft. The permits reflect an alteration granted on May 9, 2018.

Summary of transaction details:

• Property Type: Commercial
• Transaction Amount: $4,240,000
• Buyer: George Xu
• Seller: Ann Mergler
• Building Square Footage: 12,150
• Total Square Footage: 4,496
• Price per Building Square Foot: $348
• Price per Square Foot: $943
• Floor Area Ratio: 1.11
• Tax Class: 4
• Lot Size: 4,050
• Lot Dimensions: 45 ft x 89.72 ft
• Permits: Alteration 2 (05/09/2018)

The deal involved George Xu as the buyer and Ann Mergler as the seller. The transaction reflects a significant agreement in the commercial sector within the specified market area, highlighting the engagement of both parties in this asset exchange without revisiting previously mentioned financial metrics or property specifics.