Katz Family Acquires Development Site In Astoria, Queens For $7.725M

The development site located at 2618-2612 Third Street in Astoria, Queens has been sold in a recent transaction. The property, spanning 34,751 square feet, was acquired by the Katz Family from the Mathioudakis Family. Shaun Riney and Sean Fopeano of NYM Group represented the buyer, while Marcus & Millichap advised the seller. The sale price for the site was $7,725,000, with a price per buildable square foot (PPBSF) of $222.

Summary of transation details

• Property Type: Development Site
• Transaction Amount: $7,725,000
• Buyer: Katz Family
• Seller: Mathioudakis Family
• Brokers: Shaun Riney & Sean Fopeano (NYM Group) - Marcus & Millichap
• Address: 2618-2612 Third Street, Astoria, Queens
• Market: Astoria, Queens
• BSF: 34,751
• PPBSF: $222

The transaction was facilitated by Shaun Riney and Sean Fopeano from NYM Group, representing the buyer, and Marcus & Millichap, advising the seller. This deal marks the transfer of ownership for the development site at 2618-2612 Third Street in Astoria, Queens, adding to the Katz Family's portfolio in the area.