Anthony Scala Sells Development Site In Long Island City For $8.4 Million With Brax Realty

The asset involved in this transaction is a development site located at 10-37 49th Avenue & 10-45 49th Avenue in Long Island City. It was sold for a total price of $8,400,000, with a building square footage (BSF) of 24,000, resulting in a price per building square foot (PPBSF) of $350. Additionally, the site has a total square footage (SF) of 6,056, equating to a price per square foot (PPSF) of $1,387.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $8,400,000
• BSF: 24,000
• PPBSF: $350
• SF: 6,056
• PPSF: $1,387
• Seller: Anthony Scala
• Broker Representatives: Michael Ferrara & Cole Kinney Leonhardt - Brax Realty
• Transaction Date: 11/22/2024
• Note: The property was delivered vacant upon sale.

Michael Ferrara & Cole Kinney Leonhardt acted as the broker representatives for both the seller and the buyer in this transaction. Their collaboration reflects the professionalism and capabilities within the real estate market, ensuring a smooth transaction process.