TFCornerstone Acquires Development Site In LIC From Holterbosch Family For $300M
55-01 2nd Street
1,648,000 SF
Summary
The Holterbosch family has sold a development site in Long Island City, located at 55-01 2nd Street. The property, which is situated in the LIC market, was purchased by @TFCornerstone. The sale was facilitated by brokers Jimmy Kuhn, Jennifer Schwartzman, and David Noon from Newmark Knight Frank. The transaction took place on November 19, 2018.
Summary of transaction details
- Property Type: Development site
- Transaction Amount: $300,000,000
- Address: 55-01 2nd Street, Long Island City
- Market: LIC
- Seller: Holterbosch family
- Buyer: @TFCornerstone
- Brokers: Jimmy Kuhn, Jennifer Schwartzman, David Noon @NewmarkKF
The development site, with a building square footage (BSF) of 1,648,000, was sold for a price of $300,000,000. The purchase price per building square footage (PPBSF) amounted to $182. This significant transaction represents the successful deal between the Holterbosch family and @TFCornerstone, with brokerage services provided by Jimmy Kuhn, Jennifer Schwartzman, and David Noon from Newmark Knight Frank.
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