Nelson Leong Acquires Development Site In Long Island City, Queens For $3.3M

Located in Long Island City, Queens, a development site at 34-29 37th Street was recently sold in a closed transaction. The sale took place on December 29, 2020. The property is zoned as R6A, making it an ideal development opportunity.

Summary of transaction details:

• Property Type: Development site
• Transaction Amount: $3,300,000
• Address: 34-29 37th Street, Long Island City, Queens
• Market: Long Island City, Queens
• Buyer: Nelson Leong
• Seller: Paul Zaharia
• Brokers: Stephen R. Preuss & Andreas Efthymiou - Cushman & Wakefield
• BSF (Buildable Square Footage): 18,000
• PPBSF (Price Per Buildable Square Foot): $183

Leading the transaction were brokers Stephen R. Preuss and Andreas Efthymiou from Cushman & Wakefield. They represented the buyer and seller, Nelson Leong and Paul Zaharia, respectively. The deal for this development site showcases the expertise and services of Cushman & Wakefield in the real estate market.