Park Construction Acquires Astoria Development Site On Crescent St. For $6.1M

An off-market deal recently took place in Astoria, resulting in the sale of a development site located at 31-27 & 31-29 Crescent St. The property was sold by Sin Tang Tam & Betty Casazza to Park Construction, with Robert Cerrone representing the buyer. The deal was facilitated by Alexandre Goulet, Eli Zempsky, and Anand Melwani from ARM Real Estate Group. The sale price for the property was $6,100,000, and it offers a building square footage (BSF) of 24,220, translating to a price per building square footage (PPBSF) of $251.

Summary of transaction details

• Property Type: Development Site
• Transaction Amount: $6,100,000
• Address: 31-27 & 31-29 Crescent St.
• Market: Astoria
• Buyer: Park Construction - Robert Cerrone
• Seller: Sin Tang Tam & Betty Casazza
• Brokers: Alexandre Goulet, Eli Zempsky & Anand Melwani - ARM Real Estate Group
• BSF: 24,220
• PPBSF: $251

The transaction involved various key individuals and companies. Robert Cerrone represented Park Construction as the buyer, while Sin Tang Tam & Betty Casazza were the sellers. The deal was handled by Alexandre Goulet, Eli Zempsky, and Anand Melwani from ARM Real Estate Group. This off-market deal demonstrates the strong demand and active real estate market in Astoria.