Storage Deluxe Acquires Covered-Land Play In Bayside, New York For $9.7M

The property located at 21501-21511 42nd Avenue in Bayside, New York is a covered-land play with future development potential. The asset consists of a 45,000 square foot lot with C8-1 zoning and a 1.0 FAR as-of-right buildable. The purchase price for this property was $9,700,000, resulting in a price per buildable square foot of $215. The property is situated in the Queens market.

Summary of transaction details

• Property Type: Covered-Land Play / Future Development
• Transaction Amount: $9,700,000
• Lot Size: 45,000 SF
• Zoning: C8-1
• FAR: 1.0
• Price per Buildable Square Foot: $215
• Market: Queens

The seller of the property was the Ash Family, while the buyer was Storage Deluxe represented by Steve Novenstein. The broker involved in the transaction was Stephen R. Preuss.