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

Property Image
SOLD
$10,900,000
Decio Baio
David Junik
+ 2

New York

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Industrial8,125 SF
Sold 09/18/2025
the dealplayerscompscontact
Property Image
SOLD

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

46 34 11th Street

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Industrial8,125 SF
Sold 09/18/2025
Decio Baio
David Junik
+ 2
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Summary

NEW YORK
Asset Type:Industrial
Price Per Square Foot:$1,341
Total Square Footage:8,125 SF
Transaction Type:Sale

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
23 deals$651.4M volume
BROKER

Decio Baio
Pinnacle Realty of New York
11 deals$410.6M volume
BROKER

James Tack
Pinnacle Realty of New York
7 deals$152.5M volume
BROKER

George Margaronis
Pinnacle Realty of New York
4 deals$29.4M volume(718) 784-8404
BROKER


James Tack
7 deals$152.5M volume
SELLER

Details

SOLD
IMAGE: George Margaronis, Decio Baio, David Junik & James Tack DATE: 9/18/2025 ADDRESS: 46-34 11th Street MARKET: Long Island City ASSET TYPE: Residential Development Site BUYER: Jasper Wu SELLER: James Tack & Alan Braverman SELLER'S REP: George Margaronis, Decio Baio, David Junik (@DavidJunik) & James Tack - Pinnacle Realty of New York (@PinnacleRENY) SALE PRICE: $10,900,000 PLOT SF: 8,125 ~ PPSF: $1,341 BSF: 32,300 ~ PPBSF: $337

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$581,333.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$38,725.41
Cash-on-Cash Return-1.27%
Monthly Debt Service$51,671.56
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