ICross Capital Acquires Development Site In Long Island City For $12.5M

The property asset involved in the transaction is a development site located at 27-55 Jackson Ave, Long Island City. It has a transaction amount of $12,500,000, with a built square footage of 31,306 and a price per built square foot of $399. The site has a total square footage of 20,815 and a price per square foot of $600. The zoning classification is M1-5/R9, and the lot size is 4,163 square feet. The tax class is 4, and the last sale price recorded was $2,950,000 in April 2012.

Summary of transation details:

• Property Type: Development Site
• Transaction Amount: $12,500,000
• Buyer: iCross Capital – Lily Guo
• Seller: Nissim Seliktar
• BSF: 31,306
• PPBSF: $399
• SF: 20,815
• PPSF: $600
• Zoning: M1-5/R9, LIC
• Lot Size: 4,163
• Tax Class: 4
• Last Sale Price: $2,950,000 (4/2012)

The individuals involved in the transaction include Lily Guo, representing the buyer, iCross Capital, and Nissim Seliktar, the seller. Each party's representation is essential in facilitating the transaction of this development site.