Manhattan Capital Group Acquires Mixed-Use Property In Forest Hills For $4.5M

The mixed-use property located at 72-50 Austin Street in Forest Hills has been sold for $4,500,000. The property sits on a lot size of 5,000 square feet and has a building square footage of 8,600. The price per square foot for the property is $523, while the price per buildable square foot is $450. The property has a floor area ratio of 1.72 and falls under tax class 4. The zoning for the property is R5D, C2-3, FH. The permits for the property include an alteration made in October 2014.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $4,500,000
• Market: Forest Hills
• Buyer: Manhattan Capital Group
• Seller: Lewis Stockman
• BSF: 10,000
• PPBSF: $450
• SF: 8,600
• PPSF: $523

The buyer in this transaction is Manhattan Capital Group, while the seller is Lewis Stockman. The property was sold with a lot dimension of 50.42ft x 100.92ft. It is situated in a market area known as Forest Hills. The deal represents a closed transaction with a sale price of $4,500,000.