Jason Hart Acquires Multi-Family Property In Hunters Point, Queens For $85M

The multi-family property located at 22-22 Jackson Avenue in Hunters Point, Queens has been sold in a recent transaction. The property is situated in an M1-5/R7X, LIC zoning area and offers a total buildable square footage (BSF) of 125,000. With a price of $85,000,000, the price per buildable square footage (PPBSF) is approximately $680. The total square footage (SF) of the property is 167,943, resulting in a price per square footage (PPSF) of around $506.

Summary of Transaction Details

• Property Type: Multi Family
• Transaction Amount: $85,000,000
• Market: Hunters Point, Queens
• Zoning: M1-5/R7X, LIC
• Buyer: Jason Hart
• Seller: Robert Gershon
• BSF: 125,000
• PPBSF: $680
• SF: 167,943
• PPSF: $506

Jason Hart acted as the buyer in this transaction, while Robert Gershon represented the seller. The property has a floor area ratio (FAR) of 6.72 and falls under tax class 2. It sits on a lot size of 25,000 square feet, with dimensions of 100 feet by 250 feet. The previous sale of the property was recorded on 12/14/2016 for a price of $0.