Jian Xu Purchases Industrial Asset At 59-48 55th Street Maspeth From Louis Bivona For $7.9M

The sale of an industrial asset located at 59-48 55th Street in Maspeth concluded with a transaction price of $7,900,000. The property spans 16,800 square feet, equating to a price per square foot of $470.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $7,900,000
• Address: 59-48 55th Street
• Market: Maspeth
• Square Footage: 16,800
• Price Per Square Foot: $470
• Buyer: Jian Xu
• Seller: Louis Bivona
• Seller's Representatives: Brian Jaffe - Jaffe Realty LLC; Theo Kontis & Vincenzo Amato - TEK Realty Advisors

The property was represented by co-exclusive brokers Brian Jaffe from Jaffe Realty LLC and Theo Kontis & Vincenzo Amato from TEK Realty Advisors in the transaction. They note the successful sale for the ownership and offer services for property owners interested in leasing, sale, or transaction evaluations.