JNY Capital Acquires Development Site In Long Island City For $32.5M
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This Development Site property located in NY was sold for $32,500,000 about 4 years ago. The brokers of the deal were Jakub Nowak and Jonathan Eshaghian
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- Location38-42 12th Street, Long Island City, NY, USA
- Sale Price$32,500,000$101 PPSF
- Area319,200 SF
- Asset TypeDevelopment Site
- Parties2 Brokers, 1 Agency
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Deal Summary
SALE
IMAGE: Jakub Nowak & Jonathan Eshaghian
DATE: 03/09/2020
ADDRESS: 38-42 12th Street
MARKET: Long Island City
ASSET TYPE: Development Site
SELLER: United Hoisting Company Inc - Richard Halloran & Joe Covello
BUYER: JNY Capital - Moshe Pinsky
BROKERS: Jakub Nowak & Jonathan Eshaghian - Marcus & Millichap @The_Nowak_Group
SALE PRICE: $32,500,000
BSF: 319,200 ~ PPBSF: $101
NOTE: This is a JV - United Hoisting being the Land Owners and JNY Capital are teaming up to bring a commercial project to Long Island City. “This 400K BSF development will feature a mix of commercial, entertainment and community uses and will be transformative for the LIC area.” Jakub Nowak
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38-42 12th Street
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