David Koptiev Acquires Long Island City Office Building From Steve Tenedios For $9.9M

The office property located at 36-09 38 Street in Long Island City, Queens has been sold in a transaction that closed on November 11, 2021. The property spans a total area of 20,277 square feet and is zoned for M1-1 use. The buyer, David Koptiev, purchased the property from the seller, Steve Tenedios, for a price of $9,900,000. This price corresponds to a per square foot value of $488. The previous sale of the property took place on July 17, 2018, at a price of $2,000,000.

Summary of transaction details

• Property Type: Office
• Transaction Amount: $9,900,000
• Square Footage: 20,277
• Address: 36-09 38 Street, Long Island City, Queens
• Zoning: M1-1
• Buyer: David Koptiev
• Seller: Steve Tenedios
• Price per Square Foot: $488
• Last Sale Price: $2,000,000 (7/17/2018)

The transaction highlights the growing demand for office properties in the Long Island City market. David Koptiev, represented by his broker at an undisclosed agency, saw the potential of this property and made the decision to acquire it. Steve Tenedios, the seller, was seemingly content with the transaction, given the significant increase in sale price compared to the previous sale in 2018.