Cheskie Weisz Acquires Development Site In Long Island City, Queens For $30M | 26-04 & 26-08 Jackson Avenue | Jacob Savitt | Development Site | Lease

Summary

Lease

NEW YORK

Development Site

65,000 sqft

Located in Long Island City, Queens, a ground lease for a development site at 26-04 & 26-08 Jackson Ave has been closed. The ground lease was signed on September 13, 2020. The asset is zoned for M1-5/R9 with a building square footage (BSF) of 65,000. The lot size measures 74.75 ft x 100 ft. The terms of the ground lease are for a duration of 99 years.

Summary of transaction details

Property Type: Development site
Sale Price: $30,000,000
Address: 26-04 & 26-08 Jackson Ave, Long Island City, Queens
Market: Long Island City, Queens
BSF: 65,000
Lot Size: 74.75 ft x 100 ft
Zoning: M1-5/R9
Terms: 99 Year Ground Lease

On the lessee side, Cheskie Weisz from CW Realty has entered into the ground lease agreement. The lessor in this transaction is the Jadidian Family. The broker representing the deal is Jacob Savitt from L2 Capital Advisors.

Players

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1

Agents
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Jacob Savitt

Principal

Details

Deal Summary

LEASED

IMAGE: LEASE IMAGE: @JacobSavitt & Cheskie Weisz DATE: 09/13/2020 ADDRESS: 26-04 & 26-08 Jackson Ave MARKET: Long Island City, Queens ASSET TYPE: Development site SALE PRICE: $30,000,000 BSF: 65,000 / ZONING: M1-5/R9 LOT SIZE: 74.75 ft x 100 ft TERMS: 99 Year Ground Lease LESSEE: Cheskie Weisz - CW Realty LESSOR: The Jadidian Family BROKER: Jacob Savitt - L2 Capital Advisors @L2Capital

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Address26-04 & 26-08 Jackson Avenue

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