A development site located at 24-02 Queens Plaza South in Long Island City has been sold for $49,000,000. The property spans 196,000 square feet and has a price per buildable square foot (PPBSF) of $250. The transaction involved the buyer, Montperia Group represented by Alex Lau and JLS Construction represented by Steven Li and Jeff Zheng, while the seller was Carlyle Group & Botanic Properties. The deal was facilitated by broker Ben Carlos Thypin of Quantierra.

Summary of transaction details

• Property Type: Development Site
• Transaction Amount: $49,000,000
• Market: Long Island City
• Address: 24-02 Queens Plaza South
• Buyer: Montperia Group - Alex Lau & JLS Construction - Steven Li & Jeff Zheng
• Seller: Carlyle Group & Botanic Properties
• Broker: Ben Carlos Thypin - Quantierra
• BSF: 196,000
• PPBSF: $250

The Montperia Group, represented by Alex Lau, and JLS Construction, represented by Steven Li and Jeff Zheng, were the key individuals involved in the purchase of this development site. The Carlyle Group and Botanic Properties acted as the sellers in the transaction. Ben Carlos Thypin, from Quantierra, served as the broker for this deal.