Updated Aug 28, 2026
David Dishy Of LMXD Acquires Long Island City Parking Lot From King Kullen For $32.7M
35-10 Steinway Street
$32,702,455
Building Size
—
Asset Type
Parking Lot
Closing
Jul 26, 2026
About this deal
AI
A parking lot located at 35-10 Steinway Street in Long Island City, Queens, has been sold for $32,702,455. The transaction involves the transfer of a significant development site from King Kullen Grocery Co., Inc, represented by Bernard P. Kennedy, to LMXD, which is led by David Dishy. This sale signifies a notable movement in the area's real estate market.
Summary of transaction details:
- Property Type: Parking Lot
- Transaction Amount: $32,702,455
- Buyer: David Dishy
- Buyer’s Firm: LMXD
- Seller: Bernard P. Kennedy
- Seller’s Firm: King Kullen Grocery Co., Inc
- Market: Long Island City, Queens
- Date of Transaction: 07/26/2026
The transaction highlights a shift in ownership from a legacy supermarket company to a prominent residential real estate firm. This change in control reflects the evolving dynamics of property development in Queens, indicating a potential increase in residential projects in the market.
Players
Long Island City Parking Lot Market Snapshot
Boundary boundary · Parking Lot · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.49%
Cash-on-Cash
-0.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93