ICross Capital Acquires Development Site In Long Island City For $6.18M

The property asset involved in this transaction is a development site located at 28-12 41st Avenue in Long Island City, with a total sale price of $6,175,000. The zoning classification for this site is M1-5/R7-3, and it has a buildable square footage of 25,000, translating to a price per buildable square foot of $247. The lot size measures 50 feet by 100 feet.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $6,175,000
• Location: 28-12 41st Avenue, Long Island City
• Zoning: M1-5/R7-3
• Buildable Square Footage: 25,000
• Price per Buildable Square Foot: $247
• Lot Size: 50 ft x 100 ft
• Buyer: iCross Capital - Lily Guo & John McInerney
• Seller: Ari Zubli
• Broker: Rodney Nassimian @Highcap_Group

The deal involved key individuals, with the brokers representing both sides: Rodney Nassimian from Highcap Group. The brokerage is located at 12 West 37th Street, 4th Floor, New York, NY 10018. For inquiries related to available properties or selling in Long Island City, interested parties can contact Rodney Nassimian directly via phone at 347-821-4218 or 516-424-7455, or by email at [email protected].