Steven Orbuch Acquires Office Building In Hunters Point, Queens For $92.5M

The recently closed property transaction in Hunters Point, Queens involved an office asset located at 43-10 23 Street. The property is zoned as M1-4 and has a lot size of 36,650 square feet. The previous sale of the property took place on May 23, 2017, with a recorded price of $54,000,000. The dimensions of the lot are 220 feet by 158.58 feet.

Summary of Transaction Details

• Property Type: Office
• Transaction Amount: $92,500,000
• Building Square Footage: 151,180
• Price per Square Foot: $612
• Land Square Footage: 36,650
• Last Sale Price: $54,000,000 (5/23/2017)

The buyer of the property is Steven Orbuch, while the seller is Jeffrey K Gronning. The transaction was closed on December 17, 2021. The property's floor area ratio (FAR) is 4.12, and it falls under tax class 4. The price per buildable square foot (PPBSF) is $1,262.