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Jasper Wu And Michael Wang Acquire Development Site In Long Island City For $12.75M

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SOLD
$12,750,000

New York

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Development Site10,943 SF
Sold 09/18/2025
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Property Image
SOLD

Jasper Wu And Michael Wang Acquire Development Site In Long Island City For $12.75M

46 34 11th Street & 10 54 46th Road

See Similar Deals
Development Site10,943 SF
Sold 09/18/2025
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Summary

NEW YORK
Asset Type:Development Site
Price Per Square Foot:$1,165
Total Square Footage:10,943 SF
Transaction Type:Sale

The property involved in this transaction is a development site located at 46-34 11th Street & 10-54 46th Road in Long Island City. The transaction was completed with a sale price of $12,750,000 for a total square footage of 9,669, resulting in a price per square foot of $1,318.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $12,750,000
  • Address: 46-34 11th Street & 10-54 46th Road
  • Market: Long Island City
  • Square Footage: 9,669
  • Price Per Square Foot: $1,318
  • Buyer: Jasper Wu - ZD Jasper Realty
  • Buyer: Michael Wang - Winspire Development
  • Broker: Paul Youssef - FTS Capital
  • Date of Transaction: 9/18/2025

This deal was marked by the participation of Jasper Wu and Michael Wang as buyers representing ZD Jasper Realty and Winspire Development, respectively. The broker for this transaction was Paul Youssef from FTS Capital, facilitating the dealings between the involved parties.

Players

Paul Youssef
21 deals$104.2M volume(631) 245-2726
BROKER

FTS Capital
BROKERAGE

Details

SOLD
IMAGE: Jasper Wu, Paul Youssef & Michael Wang DATE: 9/18/2025 ADDRESS: 46-34 11th Street & 10-54 46th Road MARKET: Long Island City ASSET TYPE: Development Site BUYER: Jasper Wu - ZD Jasper Realty & Michael Wang - Winspire Development BROKER: Paul Youssef (@PYoussef_) - FTS Capital SALE PRICE: $12,750,000 SF: 9,669 ~ PPSF: $1,318

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$679,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$45,298.06
Cash-on-Cash Return-1.27%
Monthly Debt Service$60,441.50
Annual Debt Service$725,298.06