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RJ Capital Group Acquires Development Site In Forest Hills, Queens For $31.7M

70-35 113th Street
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This Development Site property located in NY was sold for $31,700,000 almost 4 years ago. The broker of the deal was Brendan Maddigan

A development site located at 70-35 113th Street in Forest Hills, Queens, has been sold in a recent transaction. The property is zoned as R1-2A and was purchased by RJ Capital Group, Top Rock Holdings, and SYUProperties. The sellers of the site were Jasper Venture Group. The transaction was facilitated by brokers Michael Mazzara, Brendan Maddigan, Ethan Stanton, Stephen Palmese, and Winfield Clifford from JLL. The sale price for the property was $31,700,000, matching the asking price. The site has a buildable square footage of 318,238 and a price per buildable square foot of $100.

Summary of transaction details

  • Property Type: Development Site
  • Transaction Amount: $31,700,000
  • Market: Forest Hills, Queens
  • Address: 70-35 113th Street
  • Zoning: R1-2A

The buyers of the property, RJ Capital Group, Top Rock Holdings, and SYUProperties, were represented by Michelle Abramov. The sellers, Jasper Venture Group, completed the deal with the assistance of brokers Michael Mazzara, Brendan Maddigan, Ethan Stanton, Stephen Palmese, and Winfield Clifford from JLL.

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Deals
  • Location
    7035 113th Street, Forest Hills, Queens, NY 11375, USA7035 113th Street, Forest Hills, Queens, NY 11375, USA
  • Sale Price
    $31,700,000$31,700,000
    $99 PPSF$99 PPSF
  • Area
    318,238 SF318,238 SF
  • Asset Type
    Development SiteDevelopment Site
  • Parties
    1 Broker, 1 Agency1 Broker, 1 Agency

Agent

Brendan Maddigan

Brendan Maddigan

Deals80
Financed$2.7B

Agency

JLL

JLL

Agency
Deals5579
Volume$332.6B

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Deal Summary

SALE IMAGE: Michael Mazzara, Ethan Stanton, Brendan Maddigan, Michelle Abramov, Stephen Palmese & Winfield Clifford DATE: 05/25/2021 ADDRESS: 70-35 113th Street MARKET: Forest Hills, Queens ASSET TYPE: Development Site ~ ZONING: R1-2A BUYER: RJ Capital Group - Michelle Abramov (@Michelle_Abrams1993), Top Rock Holdings & @SYUProperties SELLER: Jasper Venture Group BROKERS: Michael Mazzara (@MMazz129), @BrendanMaddigan, Ethan Stanton (@Snipa_Stanton), @StephenPalmese & Winfield Clifford @JLL ASKING PRICE: $31,700,000 SALE PRICE: $31,700,000 BSF: 318,238 ~ PPBSF: $100

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70-35 113th Street

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