Jacob Katz Acquires Development Site In Astoria For $7.4M

A development site located at 2-08 & 2-28 26th Avenue in Astoria has been sold for a price of $7,400,000. The site has a total buildable square footage of 33,000 and a price per buildable square footage of $224. It consists of six lots on the corner of 26th Avenue & 3rd Street, with 300' of wraparound frontage. The site is part of an eight-lot assemblage with a total of 60,000 buildable square footage, which was sold at a total price of $12,250,000. The property is zoned R6 with a floor area ratio of 2.2 and has been owned by the same family since the 1980s.

Summary of transaction details

• Property Type: Development Site
• Transaction Amount: $7,400,000
• Address: 2-08 & 2-28 26th Avenue, Astoria
• Market: Astoria
• BSF: 33,000
• PPBSF: $224

The seller of the property was Benedetto Filingeri, while the buyer was Jacob Katz. The transaction was facilitated under the representation of Rodney Nassimian from Highcap Group.

If you are interested in selling or buying in the Astoria/LIC market, you can contact Rodney Nassimian at 347-821-4218 or [email protected].