Ben Rieder Acquires Elmhurst Apartment In $14.5M Deal

An apartment building located at 86-22 Dongan Avenue in Elmhurst, Queens was recently sold. The property, with a total square footage of 64,436, was sold for a price of $14,500,000. The building has a buildable square footage (BSF) of 54,300, resulting in a price per buildable square footage (PPBSF) of $267. The price per square foot (PPSF) for the entire property is $225. This apartment building is zoned as R7B and falls under tax class 2. The lot size is 18,100 and the lot dimensions are 197.5 ft x 96.58 ft. The property had previously undergone an alteration permit on July 19, 2019.

Summary of transaction details

• Property Type: Apartment
• Transaction Amount: $14,500,000
• Market: Elmhurst, Queens
• Zoning: R7B

The buyer of the property is Ben Rieder, while the seller is Edward Bokhour. The transaction had a floor area ratio (FAR) of 3.56.