Slate Property Group Acquires Development Site At 9-06 27th Avenue From Ginglen Gao For $3.6M

The property asset involved in this transaction is a development site located at 9-06 27th Avenue in Astoria. The sale price was $3,600,000. The building has a total square footage of 2,300 and an associated price per square foot of $1,565. The building's total buildable square footage (BSF) is 14,572, with a price per buildable square foot (PPBSF) of $247.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $3,600,000
• Buyer: Slate Property Group
• Seller: Ginglen Gao
• Brokers: Dean Abouelhassan & Anand Melwani - Landair Advisors
• Date of Sale: 06/30/2026

This deal involved a complex negotiation process lasting nearly 18 months, characterized by multiple extensions and revisions. The brokers, Dean Abouelhassan and Anand Melwani, played a crucial role in maintaining communication between the buyer and seller throughout the challenging negotiation, ultimately leading to a successful closing. A note from the broker highlights the importance of brokers in managing the dynamics of a deal, reinforcing trust and facilitating discussions.