Israel Weinberger Acquires Development Site In Rockaway Park For $11.25M

A development site located at 2-34 Beach 102nd Street in Rockaway Park has been sold in a closed transaction. The property, with a total square footage of 23,000, was sold for $11,250,000. The site has a buildable square footage of 93,000, resulting in a price per buildable square foot of $115. The transaction included the sale of 10 units.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $11,250,000
• Address: 2-34 Beach 102nd Street, Rockaway Park
• Market: Rockaway Park
• Square Footage: 23,000
• Buildable Square Footage: 93,000
• Price per Buildable Square Foot: $115
• Number of Units: 10

The sellers of the property were Thomas & Alphonse Catanese, while the buyer was Israel Weinberger. The seller's representatives in the deal were Louis Cotrone and David Chase from B6 Real Estate.

This transaction has set a new record for the property market in Rockaway Park, further highlighting its potential for development and growth.