Jasper Wu Purchases Development Site At 37-20 Crescent Street Long Island City For $8.45M

The property asset involved in the transaction is a development site located at 37-20 Crescent Street in Long Island City. The sale price was $8,450,000, with a building square footage of 27,294 and a price per building square foot of $309.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $8,450,000
• Address: 37-20 Crescent Street
• Market: Long Island City
• BSF: 27,294
• PPBSF: $309
• Buyer: Jasper Wu
• Brokers: Stephen R. Preuss Sr., Andreas Efthymiou, Kevin Louie, James Murad & Adam Hakim - Ripco

The transaction was facilitated by the collective efforts of the RIPCO Capital Markets team, which executed the sale and acquisition financing for the property. The RIPCO Investment Sales team collaborated closely with the Debt and Structured Finance team to ensure the transaction's success.