Aditya Shah And Palwinder Singh Acquire Development Site From Lily Guo For $7.1M

The property asset involved in the transaction is a development site located at 28-12 41st Avenue in Long Island City. The sale price was $7,100,000, with a building square footage (BSF) of 25,000 and a price per building square foot (PPBSF) of $284. The site has a total square footage (SF) of 5,000, which equates to a price per square foot (PPSF) of $1,420.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $7,100,000
• Building Square Footage: 25,000
• Price Per Building Square Foot: $284
• Total Square Footage: 5,000
• Price Per Square Foot: $1,420
• Buyer: Aditya Shah & Palwinder Singh
• Seller: Lily Guo
• Broker: Rodney Nassimian - Highcap Group
• Date of Transaction: 10/2/2025
• Market: Long Island City

Rodney Nassimian of Highcap Group facilitated the sale, having originally sold the development site in 2021. The new developer intends to construct 31 condo units that will utilize the full allowable 25,000 square feet of the site.