Hajro Lalic Acquires Multifamily Property On 71-11 Austin Street, Forest Hills, Queens For $4.25M

The multifamily property located at 71-11 Austin Street in Forest Hills, Queens has been sold for a price of $4,250,000. The property is situated on a lot size of 5,009 square feet with dimensions of 50 ft x 100 ft. The building has a total square footage of 15,400, resulting in a price per square foot of $275. The buyer in this transaction is Hajro Lalic, while the seller is Eugene Ostrow III. The property falls under the zoning classification of C4-4A, FH, with a floor area ratio (FAR) of 3.08. It is important to note that permits for alteration type 2 were issued on February 7, 2014.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $4,250,000
• Building Square Footage (BSF): 20,000
• Price per Building Square Foot (PPBSF): $212
• Lot Square Footage (SF): 15,400
• Price per Square Foot (PPSF): $275
• Market: Forest Hills, Queens
• Zoning: C4-4A, FH

Hajro Lalic represented himself as the buyer in this transaction, while Eugene Ostrow III represented himself as the seller. The property's tax class is class 2. The transaction date for this sale was May 11, 2021.