George Xu Of Century Development Group Acquires Development Site At 10-38 45th Road For $15M

A development site located at 10-38 45th Road in Long Island City, Queens has been sold for a price of $15,000,000. The property has a buildable square footage of 32,000, resulting in a price per buildable square foot of $469.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $15,000,000
• Address: 10-38 45th Road
• Market: Long Island City, Queens
• Buyer: George Xu - Century Development Group
• Seller: Richard Birdoff & Michael Carroll - RD Management
• Sales Closed Date: February 19, 2026
• Recording Date: February 27, 2026
• BSF: 32,000
• PPBSF: $469

The buyer, George Xu, represented Century Development Group in this transaction, acquiring the development parcel from RD Management’s FE 45th Road LLC through 45 RD Ventures LLC. Plans for future ground-up development have been stated following the completion of the sale.