United Construction & Development Group Acquires Long Island City Industrial Property For $7.6M

The industrial property located at 37-08 34th Street in Long Island City has been sold in a recent transaction. The property is situated in an area with a zoning designation of M1-2/R6A and belongs to the market of Long Island City. With a selling price of $7,600,000, the property was purchased by Jiashu (Chris) Xu from United Construction & Development Group. The seller, Split Development Corp., was represented by Sylvia Denardo. The transaction was completed on July 29, 2021.

Summary of transation details

• Property Type: Industrial
• Transaction Amount: $7,600,000
• Address: 37-08 34th Street
• Market: Long Island City
• Zoning: M1-2/R6A

Jiashu (Chris) Xu, from United Construction & Development Group, acted as the buyer in this transaction. Sylvia Denardo represented the seller, Split Development Corp. The property spans a total of approximately 19,701 square feet, with a building square footage (BSF) of 29,700. The price per square foot (PPSF) for the property amounts to $385, while the price per BSF (PPBSF) stands at $255. The lot size measures 95.67 feet by 95 feet.