Hang Zhang Acquires Development Site In Flushing, Queens For $48M

An development site located at 138-28 Northern Blvd in Flushing, Queens has been sold for a total price of $48,000,000. The property spans a total of 143,526 square feet, resulting in a price per buildable square foot (PPBSF) of $334. The transaction took place on October 14, 2022.

Summary of transaction details

• Property Type: Development Site
• Transaction Amount: $48,000,000
• Address: 138-28 Northern Blvd, Flushing, Queens
• Market: Flushing, Queens
• BSF: 143,526
• PPBSF: $334

Han Zhang is the buyer of the property, while the seller is the Macari Family. The seller was represented by Stephen R. Preuss Sr., Kevin Schmitz, Andreas Efthymiou, Kevin Louie, and Christian Allimonos from Ripco Investment Sales.