Jiashu (Chris) Xu Acquires Development Site In Long Island City For $13M

A development site in Long Island City has been sold for $13,000,000. The property, located at 46-30 21st Street, is a development site with a lot size of 99.58 ft x 100 ft. The site is zoned as R7X/M1-4/R6B and has a buildable square footage of 47,000. The buyer in this transaction is Jiashu (Chris) Xu, while the seller is Jerry Offenberg.

Summary of transaction details

• Property Type: Development site
• Transaction Amount: $13,000,000
• Address: 46-30 21st Street, Long Island City
• Lot Size: 99.58 ft x 100 ft
• Zoning: R7X/M1-4/R6B
• Buildable Square Footage: 47,000

Jiashu (Chris) Xu has made this purchase through the representation of his broker, Rodney Nassimian, from @Highcap_Group. The seller, Jerry Offenberg, was represented by Josh Goldflam, also from @Highcap_Group. The brokers involved in this deal are experienced professionals in the development site market. Contact Rodney or Josh at [email protected] or [email protected] for any inquiries regarding development site transactions.

Note from @Highcap_Group: This transaction involved a 45-day contract to closing, with a target of closing on December 31st. The property was sold at full market pricing.