Park Construction Corp Acquires Long Island City Development Site For $11.5M

A development site in Long Island City/Queens has been sold in an off-market transaction for the price of $11,500,000. The property, located at 37-24 30th Street and 37-28 30th Street, offers a total of 48,120 residential buildable square feet (BSF). The transaction was completed on August 21, 2018, with Park Construction Corp, represented by Robert Cerrone, as the buyer and CT Brothers, LLC, represented by Jay Lau, as the seller. Anand Melwani from ARM Real Estate Group represented the seller, while Alex Goulet, also from ARM Real Estate Group, represented the buyer in this deal.

Summary of transaction details

• Property Type: Development Site
• Transaction Amount: $11,500,000
• Address: 37-24 30th Street, 37-28 30th Street
• Market: Long Island City/Queens
• BSF: 48,120

This off-market transaction involved Park Construction Corp, led by Robert Cerrone, as the buyer and CT Brothers, LLC, represented by Jay Lau, as the seller. Anand Melwani from ARM Real Estate Group represented the seller, while Alex Goulet, also from ARM Real Estate Group, represented the buyer. The deal was completed on August 21, 2018.