Rockrose Development Acquires Industrial Property In Astoria, Queens For $5.12M

The industrial property located at 32-49 49th Street in Astoria, Queens has been sold. The transaction took place on February 1, 2023. The property was purchased by Rockrose Development, represented by Patricia Dunphy, for a total sale price of $5,120,000. The property spans 10,050 square feet and was sold at a price per square foot of $509. The buyer, Rockrose Development, is a prominent player in the real estate industry.

Summary of transaction details

• Property Type: Industrial
• Transaction Amount: $5,120,000
• Address: 32-49 49th Street, Astoria, Queens
• Market: Astoria, Queens
• Buyer: Rockrose Development - Patricia Dunphy

The sale of this industrial property represents a significant deal in the real estate market. The seller, Teamsters Local 807, was represented by Demos P. Demopoulos and Scott Little. The property offers desirable characteristics, including a building square footage (BSF) of 10,489. The price per BSF (PPBSF) for the property amounts to $488, reflecting the value and potential of the industrial space. This transaction demonstrates the strength of the market in Astoria, Queens.