Michael Levy Acquires Mix Use Property In LIC, Queens For $39.75M

The property located at 34-20 45th Street, 44-01 Northern Boulevard, and 44-33 Northern Boulevard in LIC, Queens, was sold for a total price of $39,750,000. The asset is a mix-use property with a total building square footage (BSF) of 203,000 and a price per BSF (PPBSF) of $196. The property spans across 50,076 square feet, resulting in a price per square foot (PPSF) of $794. The zoning for the property includes R6B, R7X, and C2-4.

Summary of transaction details:

• Property Type: Mix Use
• Transaction Amount: $39,750,000
• Address: 34-20 45th Street, 44-01 Northern Boulevard & 44-33 Northern Boulevard
• Market: LIC, Queens
• BSF: 203,000
• PPBSF: $196
• SF: 50,076
• PPSF: $794

The buyer of the property is Michael Levy, while the sellers are Bruce Bendell, Lauren Bendell, Harold Bendell, and Anne Bendell. The property features a floor area ratio (FAR) of 0.95 and belongs to tax class 4. The lot size is 38,000 square feet, with the last recorded sale dating back to February 2nd, 2017, for a price of $6,000,000. A full demolition permit was issued on November 17th, 2021, for the property. The lot dimension is 190 feet by 200 feet.