Updated Feb 13, 2026
Accord Power Acquires Development Site In Long Island City From Spyro And Evan Avdoulos For $4.9M
11 02 37th Avenue
$4,900,000
$326/SF
Building Size
15,000 SF
Asset Type
Development Site
Closing
Jan 27, 2026
About this deal
AI
A development site located at 11-02 37th Avenue in Long Island City, Queens, has been sold for $4,900,000. The property encompasses an area of 15,000 square feet, resulting in a price per square foot of $327.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $4,900,000
- Buyer: Accord Power
- Seller: Spyro Avdoulos & Evan Avdoulos
- Market: Long Island City, Queens
- Square Footage: 15,000
- Price per Square Foot: $327
Accord Power, through Maxxpower LLC, intends to owner-occupy the property and plans to renovate the second floor. The seller, Spyro and Evan Avdoulos, were represented by their entity Astor 2 LLC in this transaction.
Players
Long Island City Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
Loading comparables…
Deal FAQ
Visit Spyro Avdoulos to view all their deals.
Browse Long Island City development site sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.24%
Cash-on-Cash
-0.93%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93