108 Atlantic LLC Acquires Retail Property On Atlantic Avenue In Queens For $3.5M

A retail property located at 109-14 Atlantic Avenue in Queens, Richmond Hill was recently sold for a price of $3,500,000. The property has a building square footage (BSF) of 11,796, which translates to a price per BSF (PPBSF) of $296. It has a total square footage (SF) of 3,893, with a price per SF (PPSF) of $899. The property's zoning is classified as R6A and C2-3. The lot size is 3,932 square feet, with lot dimensions measuring 50 ft x 78.45 ft. The transaction took place on March 31, 2021, and the buyer is 108 Atlantic LLC, while the seller is Bruno Loia. The property's floor-to-area ratio (FAR) is 0.99, and it falls under tax class 4. Notably, the property underwent an alteration type 1 permit on October 20, 2017.

Summary of transaction details

• Property Type: Retail
• Transaction Amount: $3,500,000
• Market: Queens, Richmond Hill
• Zoning: R6A, C2-3
• Buyer: 108 Atlantic LLC
• Seller: Bruno Loia
• Building Square Footage: 11,796
• Price per BSF: $296
• Total Square Footage: 3,893
• Price per SF: $899
• Floor-to-Area Ratio (FAR): 0.99
• Tax Class: 4
• Lot Size: 3,932 sqft
• Permits: Alteration type 1 (10/20/2017)
• Lot Dimensions: 50 ft x 78.45 ft

108 Atlantic LLC acted as the buyer in this transaction, while Bruno Loia represented the seller. The deal closed on March 31, 2021, with both parties finalizing the sale of the retail property at 109-14 Atlantic Avenue in Queens, Richmond Hill.