Antonio Colarusso Acquires Industrial Property In Whitestone, Queens For $6.3M

A warehouse property located at 151-59 Powells Cove Blvd & 151-57 Powells Cove Blvd in Whitestone, Queens was recently sold in a closed transaction. The industrial property is zoned as M1-1, offering potential for various commercial uses. The sale took place on January 28, 2022, and involved the following parties:

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $6,300,000
• Address: 151-59 Powells Cove Blvd & 151-57 Powells Cove Blvd
• Market: Whitestone, Queens
• Buyer: Antonio Colarusso
• Seller: Richard M Biaggi

The industrial property spans an impressive 11,912 square feet, with a building size factor (BSF) of 31,600. The price per square foot (PPSF) for this transaction was $528. The lot size of the property measures 14,600 square feet, with dimensions of 121 ft x 118 ft. The property falls under tax class 4 and has a floor area ratio (FAR) of 0.42.

Notably, alterations permits were obtained for this property on October 14, 2020, suggesting potential recent improvements or modifications.