GIRT Realty LLC Acquires Development Site In Long Island City, Queens For $31M

A development site located at 39-04 Northern Blvd in Long Island City, Queens has been sold for $31,000,000. The property has a total building square footage (BSF) of 194,585 and a price per square foot (PPBSF) of $160. The transaction took place on November 15, 2018. The buyer, GIRT Realty LLC, represented by Carmelo Giuffre, acquired the property from Speedway LLC, represented by Gary R. Heminger. The deal was facilitated by brokers Andrew Sasson and Chad Sinsheimer from Ackman Ziff.

Summary of transaction details

• Property Type: Development Site
• Transaction Amount: $31,000,000
• Address: 39-04 Northern Blvd, Long Island City, Queens
• Market: Long Island City, Queens
• BSF: 194,585
• PPBSF: $160

The buyer, GIRT Realty LLC, led by Carmelo Giuffre, successfully acquired the development site from the seller, Speedway LLC, helmed by Gary R. Heminger. This transaction demonstrates the strong real estate activity in Long Island City, Queens. Andrew Sasson and Chad Sinsheimer from Ackman Ziff played a crucial role as brokers, ensuring the smooth completion of the deal.