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46 34 11th Street

Jasper Wu Acquires Residential Development Site In Long Island City For $10.9M
SOLDIndustrial

Jasper Wu Acquires Residential Development Site In Long Island City For $10.9M

46 34 11th Street

$10,900,000

$1,341/SF

Building Size

8,125 SF

Asset Type

Industrial

Closing

Sep 17, 2025

AI

The property asset involved in the transaction is a residential development site located at 46-34 11th Street in Long Island City. The sale price of the property was $10,900,000. It encompasses a plot size of 8,125 square feet with a price per square foot of $1,341. The total built square footage is 32,300, which translates to a price per built square foot of $337.

Summary of transaction details:

  • Property Type: Residential Development Site
  • Transaction Amount: $10,900,000
  • Address: 46-34 11th Street
  • Market: Long Island City
  • Plot Size: 8,125 square feet
  • Price per Square Foot: $1,341
  • Built Square Footage: 32,300
  • Price per Built Square Foot: $337
  • Buyer: Jasper Wu
  • Seller: James Tack & Alan Braverman
  • Seller's Representative: George Margaronis, Decio Baio, David Junik & James Tack - Pinnacle Realty of New York

Key individuals in the deal include the buyer Jasper Wu, along with sellers James Tack and Alan Braverman. The transaction was assisted by a group of representatives from Pinnacle Realty of New York, comprising George Margaronis, Decio Baio, David Junik, and James Tack, who facilitated the sale process.

Players

David Junik

Pinnacle Realty of New York

Broker

$651.4M

vol

23 deals

Broker

Jasper Wu

Buyer

$666M

vol

21 deals

Buyer
James Tack

James Tack

Seller

$152.5M

vol

7 deals

Seller

Long Island City Industrial Market Snapshot

Boundary boundary · Industrial · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.46%

Cash-on-Cash

-0.42%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93