Benaim x Partners Sells Willets Point Parcel Sale for $12M
Benaim X Partners has sold a 60,000 square feet of land in Willets Point to Related, Sterling Equities, and NYCFC for $12.3 million. The sale was arranged by Eric Benaim, principal of Benaim X Partners.
The newly acquired land is slated to be part of a master-planned neighborhood in Queens, featuring a 25,000-seat NYCFC stadium, 2,500 affordable housing units, retail spaces, 40,000 sqft of public open spaces, a school, and a hotel.
As the largest 100% affordable housing project in New York City in four decades, Willets Point Phase 1A landed $360 million in financing in December 2023. The City of New York has committed over $420 million to the project to support both the housing and major site infrastructure improvements.
Emily Fu is Content Director of Connect Commercial Real Estate, where she covers the east coast markets, including New York, Boston & New England, and DC & Mid-Atlantic markets. She produces daily news stories as well as longer-form content, ranging from Q&As to thought-leadership pieces. She also writes feature stories for Connect Money.
With previous stints at Reuters, Seeking Alpha, and Commercial Observer, Emily has covered the finance side of the commercial real estate industry, technology, media, telecom (TMT), and fashion. She attended the Columbia Graduate School of Journalism and currently resides in Manhattan.