Pearl Realty Management Acquires Mixed-Use Asset In Long Island City From Brightspire Capital For $28M

The mixed-use asset located at 21-00 49th Avenue in Long Island City was sold for $28,000,000. The property spans 124,079 square feet, translating to a price per square foot of $225.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $28,000,000
• Address: 21-00 49th Avenue
• Market: Long Island City
• Sale Price: $28,000,000
• Square Footage: 124,079
• Price Per Square Foot: $225
• Buyer: Pearl Realty Management
• Seller: Brightspire Capital
• Brokers: Joshua King, Daniel O'Brien, Caroline Hodes, Loren Valla, Danny Jones, Adam Spies, Adam Doneger - Newmark

Key individuals involved in this transaction include Pearl Realty Management as the buyer and Brightspire Capital as the seller. The brokerage team representing the deal consisted of Joshua King, Daniel O'Brien, Caroline Hodes, Loren Valla, Danny Jones, Adam Spies, and Adam Doneger from Newmark.