Henry Zheng Acquires Development Site From Sidney Mandel In Long Island City For $1.65M

The property asset involved in this transaction is a development site located at 23-03 40th Avenue in Long Island City. The sale price of the property was $1,650,000, with a building square footage (BSF) of 7,010, resulting in a price per building square foot (PPBSF) of $235. The total square footage (SF) of the property is 2,500, with a price per square foot (PPSF) of $660.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $1,650,000
• BSF: 7,010
• PPBSF: $235
• SF: 2,500
• PPSF: $660
• Buyer: Henry Zheng
• Seller: Sidney Mandel
• Broker: Evan Daniel - Modern Spaces
• Attorney: Elliot Steinmetz - Rosenberg & Steinmetz PC

The transaction was facilitated by broker Evan Daniel of Modern Spaces, who represents the deal. Elliot Steinmetz of Rosenberg & Steinmetz PC served as the attorney. Note: Contact Modern Spaces for more information about Western Queens real estate. They are currently marketing over $200 million in commercial and investment property.