Jasper Wu Of ZD Jasper Purchases Development Site In Long Island City For $24.1M
45 40 Pearson Street, 45 33 Davis Street, 45 39 Davis Street & 45 40 Davis Street
$24,100,000
Building Size
—
Asset Type
Development Site
Closing
Dec 9, 2025
AI
A development site located at 45-40 Pearson Street, 45-33 Davis Street, 45-39 Davis Street & 45-40 Davis Street in Long Island City was sold for $24,100,000. The asset comprises four parcels, and the buyer plans to develop a 105-unit condominium complete with retail space and amenities. The construction is anticipated to begin in summer 2026 and be completed by 2028.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $24,100,000
- Buyer: Jasper Wu - ZD Jasper
- Seller: Henick-Lane
- Market: Long Island City
The transaction involved Jasper Wu representing ZD Jasper as the buyer and Henick-Lane as the seller. The deal reflects a significant investment in the Long Island City area, indicating plans for considerable development in the local real estate market.
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
0.66%
Cash-on-Cash
-0.19%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93