Bo Jiang Acquires Mix Use Property In Bayside, Queens For $7.1M

Situated in Bayside, Queens, the property located at 214-14 41 Avenue, 214-18 41 Avenue, and 214-20 41 Avenue recently changed ownership in a closed sale transaction. The mixed-use asset, boasting a zoning classification of R6B and C1-2, offers a versatile opportunity for various purposes.

Summary of Transaction Details

• Property Type: Mixed Use
• Transaction Amount: $7,100,000
• Address: 214-14 41 Avenue, 214-18 41 Avenue, and 214-20 41 Avenue
• Market: Bayside, Queens
• Lot Size: 4,570 sq ft
• Lot Dimension: 40 ft x 107.75 ft

The buyer, Bo Jiang, acquired the property from the seller, Martin Picone. The transaction, which took place on November 1, 2021, marked a significant milestone in the local real estate market. The previous sale of the property occurred on May 21, 2007, with a recorded price of $1,600,000.

The property encompasses a total buildable square footage (BSF) of 17,840, resulting in a price-per-buildable-square-foot (PPBSF) of $398. With a square footage (SF) of 13,826, the property is valued at approximately $514 per square foot (PPSF). Additionally, the property's floor area ratio (FAR) stands at 0.97, and it falls under tax class 4.

This transaction showcases the dynamic real estate market in Bayside, Queens, and the diverse range of properties available. The acquisition of 214-14 41 Avenue, 214-18 41 Avenue, and 214-20 41 Avenue by Bo Jiang for $7,100,000 exemplifies the attractive investment opportunities in the area.