Jacob Katz Acquires Development Site In Astoria For $4.85M

A development site in Astoria, located at 26-11 2nd St. & 2-06 26th Ave., has been sold for $4,850,000. The transaction took place on 02/03/2022 and was facilitated by Rodney Nassimian of Highcap Group. The property has a buildable square footage (BSF) of 27,000, resulting in a price per buildable square footage (PPBSF) of $179. The seller, Gerald Maric, and the buyer, Jacob Katz, completed the sale, marking the first transaction for this site since the 1980s. The development site boasts 300 feet of wraparound frontage and is situated in the bustling Astoria market.

Summary of transaction details

• Property Type: Development Site
• Transaction Amount: $4,850,000
• Address: 26-11 2nd St. & 2-06 26th Ave., Astoria
• Market: Astoria
• Buildable Square Footage (BSF): 27,000
• Price per Buildable Square Footage (PPBSF): $179

Rodney Nassimian of Highcap Group represented both the buyer and seller in this transaction. The property's unique feature includes 300 feet of wraparound frontage, providing ample opportunity for development. For further inquiries or assistance in the Astoria/LIC market, interested parties can reach out to Rodney Nassimian at 347-821-4218 or [email protected].