Jonathan Yormak Acquires Industrial Property In Long Island City For $41.7M

An industrial property located at 48-02 48 Avenue & 48-15 50 Avenue in Long Island City, Queens, was sold on January 18, 2022. The property is zoned as M1-2 and spans a total of 126,533 square feet. The transaction was completed at a price of $41,700,000, resulting in a price per square foot of $329. The property has a lot size of 96,625 with dimensions of 457 feet by 253 feet.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $41,700,000
• Market: Long Island City, Queens
• Zoning: M1-2
• Square footage: 126,533
• Price per square foot: $329
• Lot Size: 96,625
• Lot Dimensions: 457 ft x 253 ft

The buyer of the property is Jonathon Yormak, while the seller is Peter Gaslow.