Cirrus Real Estate Partners And Joseph McDonnell Acquire Development Site In Jamaica For $46.125M

The property involved in the transaction is a development site located at 92-30 165th Street in the Jamaica market. The sale price was $46,125,000, with a building square footage (BSF) of 600,000, resulting in a price per BSF (PPBSF) of $76. The total square footage (SF) of the property is 77,400, giving a price per square foot (PPSF) of $595.

Key participants in the transaction include the buyer, Cirrus Real Estate Partners, along with Joseph McDonnell representing Resorts World NYC. The seller, Justin Rodgers, is associated with Greater Jamaica Development Corp. The seller's representation was handled by a team from Ripco, which includes Kevin Schmitz, Stephen R. Preuss Sr., Andreas Efthymiou, and Kevin Louie.