Thomas Ballis Acquires Development Site On 31st Street In Long Island City For $2.8M

The asset involved in this transaction is a development site located on 31st Street in Long Island City. The sale price of the property was $2,800,000, with a buildable square footage (BSF) of 11,260, which translates to a price per buildable square foot (PPBSF) of $248. The site has a total square footage (SF) of 3,700, resulting in a price per square foot (PPSF) of $756.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $2,800,000
• Address: 31st Street
• Market: Long Island City
• Buildable Square Footage (BSF): 11,260
• Price Per Buildable Square Foot (PPBSF): $248
• Total Square Footage (SF): 3,700
• Price Per Square Foot (PPSF): $756
• Buyer: Thomas Ballis
• Seller: Jacob Entel

Thomas Ballis acted as the buyer in this transaction, while Jacob Entel served as the seller. The transaction was completed on December 18, 2025, and involved a significant development site purchase in a prime market area.