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
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