Zhidong Wu Acquires Industrial Property In Hunters Point For $11M

The industrial property located at 45-17 Davis Street in the Hunters Point market has been sold for a price of $11,000,000. The property has a building square footage (BSF) of 37,500 and a price per building square footage (PPBSF) of $293. The total square footage (SF) of the property is 7,125, with a price per square footage (PPSF) of $1,543. The property has a floor area ratio (FAR) of 0.95 and falls under tax class 4. The lot size measures 7,500 square feet, with lot dimensions of 75 ft x 100 ft. The previous sale price of the property was $9,550,000 on August 9, 2019. The property underwent an alteration type 3 permit on May 25, 2021.

Summary of transation details

• Property Type: Industrial
• Transaction Amount: $11,000,000
• Buyer: Zhidong Wu
• Seller: Jasmin Patel
• Market: Hunters Point
• Address: 45-17 Davis Street
• Zoning: M1-5/R7-3, LIC

Zhidong Wu served as the buyer in this transaction, while Jasmin Patel acted as the seller. The sale price represents an increase of $1,450,000 from the previous sale. The property is located in an area zoned as M1-5/R7-3, LIC, allowing for industrial use. The alteration type 3 permit obtained in May 2021 suggests that modifications were made to the property. The deal involved a total lot size of 7,500 square feet, with dimensions of 75 ft x 100 ft.