Innovo Property Group Acquires Office Building In Long Island City, Queens For $387M

The office property located at 23-02 49th Avenue in Long Island City, Queens was sold for a price of $387,000,000. With a total area of 461,000 square feet, the property was acquired by Andrew Chung of Innovo Property Group.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $387,000,000
• Address: 23-02 49th Avenue, Long Island City, Queens
• Market: Long Island City, Queens
• Buyer: Andrew Chung – Innovo Property Group
• Seller: Westbrook Partners
• Seller's Representative: Adam Spies, Doug Harmon, Josh King & Adam Doneger – Cushman & Wakefield

In this transaction, Andrew Chung represented Innovo Property Group as the buyer, while Westbrook Partners served as the seller. The sale was facilitated by the Cushman & Wakefield team, comprised of Adam Spies, Doug Harmon, Josh King, and Adam Doneger.

With a purchase price of $387,000,000 and a selling price per square foot of $839, this office property deal in Long Island City reflects the continuous growth and investment in the area.