Maier Kovitz Acquires Development Site In Long Island City, Queens For $3.9M

A development site located at 37-25 32nd Street in Long Island City, Queens has been sold for a price of $3,900,000. The property is situated in a prime location and offers significant potential for development. With a buildable square footage (BSF) of 14,225, this site presents an excellent opportunity for future construction projects. The price per buildable square footage (PPBSF) for this transaction amounts to approximately $274, highlighting the value associated with this sale.

Summary of transaction details

• Property Type: Development Site
• Transaction Amount: $3,900,000
• Address: 37-25 32nd Street, Long Island City, Queens
• Market: Long Island City, Queens
• Buyer: Maier Kovitz
• Seller: Paul Conway
• Brokers: Stephen R. Preuss Sr., Andreas Efthymiou, Kevin Schmitz, and Kevin Louie - Ripco

In this transaction, Stephen R. Preuss Sr., Andreas Efthymiou, Kevin Schmitz, and Kevin Louie represented the buyer and seller as brokers from Ripco. Their involvement played a crucial role in facilitating the sale of this development site in Long Island City. This deal represents a significant investment in the area and demonstrates the potential for future growth and development in the neighborhood.