Barone Management Acquires Development Site In Queens For $20M

The Sisters of St. Dominic have sold a development site located at 89-25 161st Street and 89-25 162nd Street in New York, Queens. The property, with a total square footage of 295,000 sf, was purchased by Barone Management for a price of $20,000,000, resulting in a price per square foot of $67.

Summary of transaction details

• Property Type: Dev Site
• Transaction Amount: $20,000,000
• Address: 89-25 161st Street and 89-25 162nd Street, New York
• Market: Queens
• Total Square Footage: 295,000 sf
• Price per Square Foot: $67
• Seller: Sisters of St. Dominic
• Buyer: Barone Management - Scott Barone, BaroneManagement.com

Barone Management, led by Scott Barone, successfully acquired the development site from the Sisters of St. Dominic. Barone Management is a prominent real estate company, as demonstrated by their active involvement in this transaction.