Updated Jan 28, 2026
Kean Chen Acquires Development Site From Howard Cohen In Long Island City For $10.2M
42 73 Hunter Street & 42 71 Hunter Street
$10,200,000
$2,060/SF
Building Size
2,475 SF
Asset Type
Development Site
Closing
Jan 15, 2026
About this deal
AI
This development site is located at 42-73 Hunter Street & 42-71 Hunter Street in Long Island City. The transaction was completed for a price of $10,200,000, with a total built square footage (BSF) of 24,885 and a price per built square footage (PPBSF) of $410. The site encompasses a total square footage (SF) of 4,950, resulting in a price per square foot (PPSF) of $2,060.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $10,200,000
- BSF: 24,885
- PPBSF: $410
- SF: 4,950
- PPSF: $2,060
- Buyer: Kean Chen
- Seller: Howard Cohen
- Broker: Cole Kinney Leonhardt - Brax Realty
Cole Kinney Leonhardt represented both Kean Chen and Howard Cohen in this transaction, facilitating the deal between the buyer and the seller.
On the Map
$10,200,000
$2,060/SF
Development Site
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Players
Long Island City Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.56%
Cash-on-Cash
-0.44%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93