CW Realty Enters 99-Year Ground Lease For Development Site At 21-02 44th Drive In Long Island City

The asset involved in this transaction is a development site located at 21-02 44th Drive in the Long Island City market. The total square footage of the property is 48,240, and it has been secured through a 99-Year Ground Lease.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: Not specified
• Address: 21-02 44th Drive
• Market: Long Island City
• Lease Term: 99-Year Ground Lease
• Lease Type: Ground Lease
• Lessee: CW Realty – Cheskie & Shia Weisz
• Brokers: James Nelson, Patrick Madigan, Frederick (Fritz) Richter, Joseph Moran & Miles Davis-Bosch - Avison Young

The lessee, CW Realty, is represented by Cheskie and Shia Weisz, while the transaction was brokered by a team from Avison Young, including James Nelson, Patrick Madigan, Frederick (Fritz) Richter, Joseph Moran, and Miles Davis-Bosch.