Wolfe Landau - Watermark Capital Group Secures $15M Ground Lease For Long Island City Parking Lot

A vacant parking lot located at 41-02 Crescent Street in Long Island City, Queens has been leased by Wolfe Landau - Watermark Capital Group. The ground lease, secured for $15 million, allows Watermark Capital Group to utilize the parking lot for their business operations.

Summary of transation details

• Property Type: Parking Lot
• Transaction Amount: $15 million
• Address: 41-02 Crescent Street
• Market: Long Island City, Queens

Gianpietro Pecora is the landlord of the property, while Wolfe Landau, representing Watermark Capital Group, is the tenant. The lease agreement has an asking rent of $100 per square foot, with a total square footage of 149,995. This ground lease transaction is expected to have a positive impact on the business operations of Wolfe Landau - Watermark Capital Group in Long Island City, Queens.