Long Island Power Authority Purchases Development Site From National Grid For $23M In Far Rockaway

The development site located at Mott Avenue and Bay 24th Street in Far Rockaway was sold for $23,000,000. The property spans a total area of 583,702 square feet, equating to a price per square foot of $39.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $23,000,000
• Buyer: Long Island Power Authority (LIPA)
• Seller: National Grid
• Brokers: Brendan Callahan, Ethan Stanton, Hall Oster, Tyler Peck, Michael Mazzara & Brendan Maddigan - JLL

The transaction involved key representatives from JLL who facilitated the deal, ensuring a smooth process between the Long Island Power Authority and National Grid, highlighting the expertise and coordination of the brokers involved in this significant transaction.