Jim Cichielo Sells Development Site In Long Island City For $3.13M

A development site located at 5-22 49th Avenue in Long Island City has been sold in a recent transaction. The property was listed for an asking price of $3,000,000 and ultimately sold for $3,130,000. With a total building square footage (BSF) of 10,000, the sale price per BSF (PPBSF) comes to $313.

Summary of transaction details:

• Property Type: Development site
• Transaction Amount: $3,130,000
• Address: 5-22 49th Avenue
• Market: Long Island City
• Asking Price: $3,000,000
• BSF: 10,000
• PPBSF: $313

The seller of the property is Jim Cichielo. The deal was facilitated by brokers Max Belinsky, Dimitri Kapelonis, Constantinos Kapelonis, and Austin Roche from BKR Real Estate Group.