Blackstone Group Acquires Garage In East Elmhurst For $19M

83-34 23rd Ave, East Elmhurst, NY, USA

$19,000,000

$2,190/SF

Building Size

8,675 SF

Asset Type

Other

Closing

Nov 12, 2020

AI

A garage located at 83-34 23rd Ave. in East Elmhurst, with a lot size of 72,290 square feet, has been sold for a price of $19,000,000. The property is zoned as M1-1 and has a floor area ratio (FAR) of 0.12. The tax class for this property is 4.

Summary of transaction details

Property Type: Garage
Transaction Amount: $19,000,000
Market: East Elmhurst
Zoning: M1-1

In this deal, the buyer was the Blackstone Group, represented by Kathleen Mccarthy, Jonathan Gray, and Ken Caplan. The seller of the property was Sanford Miller.

The garage has a total square footage of 8,675, with a price per square foot (PPSF) of $2,190. The building has a total buildable square footage (BSF) of 72,290, leading to a price per buildable square foot (PPBSF) of $262.

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