Susan Wu Acquires Industrial Property At 43-10 21st Street From Eric Chait For $14.5M

The property asset involved in this transaction is an industrial building located at 43-10 21st Street in the Long Island City market. The sale was finalized with a transaction amount of $14,500,000, covering an area of 40,400 square feet, resulting in a price per square foot of $358.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $14,500,000
• Sale Price per Square Foot: $358
• Total Square Footage: 40,400
• Address: 43-10 21st Street
• Market: Long Island City
• Buyer: Susan Wu
• Seller: Eric Chait
• Brokers: Jakub Nowak, Matthew Rosenzweig - The Nowak Group of Marcus & Millichap; Jonathan Eshaghian - Isaacson Real Estate; James Tack, Paul Bralower & Brendan Burke - Pinnacle Realty of New York

The transaction highlights the collaborative efforts of multiple brokerage teams. The Nowak Group of Marcus & Millichap, Isaacson Realty Corp, and Pinnacle Realty of New York successfully executed a co-brokered sale, generating a competitive bidding environment that culminated in a final sale price exceeding $362 per building square foot. This reflects an aggressive metric for multi-story industrial properties in the Queens submarket.