Updated Dec 17, 2025
ZD Jasper Acquires Development Site At 45-35 Davis Street Long Island City For $24.1M
45 35 Davis Street
$24,100,000
$321/SF
Building Size
75,000 SF
Asset Type
Development Site
Closing
Dec 4, 2025
About this deal
AI
The development site located at 45-35 Davis Street in Long Island City has been sold for $24,100,000. The asset encompasses a total square footage of 75,000, equating to a price per square foot of $321.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $24,100,000
- Address: 45-35 Davis Street
- Market: Long Island City
- Square Footage: 75,000
- Price Per Square Foot: $321
- Buyer: ZD Jasper
- Seller: Ernie Henick
- Brokers: Jakub Nowak & Matthew Rosenzweig - Marcus & Millichap; Simona Eshaghian & Jonathan Eshaghian - Isaacson Real Estate
The Nowak Group of Marcus & Millichap represented the seller and successfully executed a marketing campaign directed at qualified developers. The collaboration included efforts with Isaacson Corp, resulting in a notable transaction for this block.
Players
Long Island City Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.66%
Cash-on-Cash
-0.19%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93