Mike Ma Purchases Air Rights In Astoria From Norman Mirsky For $805,000

An air rights transaction took place for the property located at 27-24 21st Street in the Astoria market. The sale price was $805,000, with a buildable square footage (BSF) of 8,350 and a price per buildable square foot (PPBSF) of $96.

Summary of transaction details:

• Property Type: Air Rights
• Transaction Amount: $805,000
• Buyer: Mike Ma
• Seller: Norman Mirsky
• Broker: Rodney Nassimian - Highcap Group
• BSF: 8,350
• PPBSF: $96

Rodney Nassimian represented both the seller and buyer in this transaction. Notably, over 8,000 square feet of air rights were acquired to enhance the development at the neighboring properties located at 27-28 & 27-30 21st Street, resulting in a future development of over 33,350 buildable square feet with 14 floors and 50 units.