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Brax Realty Arranges Deal for Long Island City Parcel
Brax Realty arranged the sale of a prime development site in Long Island City for $8,400,000, or $350 per buildable square foot. The transaction was brokered by Brax’s Michael Ferrara and Cole Kinney Leonhardt. Buyer and seller were not disclosed.
The property is a 12,000-square-foot lot with two vacant commercial buildings, located near the 7 and G subway trains with convenient access to Manhattan, Brooklyn and Queens. It’s currently zoned to allow up to 24,000 square feet of residential use.
“This sale underscores the continued appeal of Long Island City as a premier destination for residential development,” said Ferrara.
Added Kinney Leonhardt, “Long Island City continues to attract visionary developers, and we’re excited to contribute to the neighborhood’s ongoing transformation.”
- ◦Sale/Acquisition
- ◦Development

