Grubb Properties Opportunity Zone Fund Acquires Development Site In Long Island City For $63M

A development site located at 25-01 Queens Plaza North in Long Island City has been sold for a price of $63,000,000. The buyer of the property is Grubb Properties Opportunity Zone Fund, represented by Clay Grubb. The seller includes Estia Realty, Vadiel Properties, and VI Properties. The brokers involved in the deal are Daniel Kaplan, Elli Klapper, and Justin Arzi from BRE. The property, with a total square footage of 239,000, is situated in Long Island City's market.

Summary of Transaction Details

• Property Type: Development Site
• Transaction Amount: $63,000,000
• Address: 25-01 Queens Plaza North
• Market: Long Island City

The Grubb Properties Opportunity Zone Fund, led by Clay Grubb, successfully acquired the development site. The selling entities, Estia Realty, Vadiel Properties, and VI Properties, completed the transaction. Assisting in the deal were Daniel Kaplan, Elli Klapper, and Justin Arzi from BRE as the brokers involved.