Chkheidze of Cushman & Wakefield brokers $990,000 sale

A development site at 5134-5136 35th St., located between Bradley and Gale Aves. in the Long Island City neighborhood, was sold in an all-cash transaction valued at $990,000. The prime development site consists of two tax lots which combine for 5,000 buildable s/f on a 50' x 100' lot. The site currently holds two buildings, measuring a total of 1,640 s/f. Additionally, it features a large 3,360 s/f rear yard. The sale price equates to approximately $198 per buildable s/f. The subject properties are located within close proximity to the Long Island Expressway and Greenpoint Ave., making it a short commute to Brooklyn's Greenpoint neighborhood. "The access to transportation made this an extremely appealing site for a user. The final price per buildable s/f is extremely promising for the neighborhood and further highlights the growth occurring in this area," said Cushman & Wakefield's David Chkheidze, who exclusively represented the seller in this transaction. The buyer was represented by Ruben de Kast Martinez of DY Realty