Development Site Advisors facilitated the $21 million all-cash sale of The Rowan II, an Astoria site in a Qualified Opportunity Zone, to FBL Development from RockFarmer Properties.
The property, a 4-lot, 18,756 square feet site with an existing retail building, offers potential for a luxury condo building. Ponce Bank provided the purchasers with a land acquisition loan for this transformative project.
“The sales price equates to $321/ZFA, one of the highest prices achieved for a development site in Astoria, which reflects the general optimism for the overall market and Astoria in the years ahead,” said Rubin Isak, Development Site Advisors’ co-founder.
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Robert Khodadadian has long had a simple philosophy about selling real estate. There are approximately a million buildings in the city, and the broker that gets to sell any one among the multitude that will hit the auctioning block at a given moment is, sometimes, simply the person who happens to pitch their services to the right seller.
robert khodadadian, skyline properties, commercial real estate, off market real estate, daniel shirazi, real estate investment, new york real estate
Read MoreConnect CREDevelopment Site Advisors facilitated the $21 million all-cash sale of The Rowan II, an Astoria site in a Qualified Opportunity Zone, to FBL Development from RockFarmer Properties. The property, a 4-lot, 18,756 square feet site with an existing retail building, offers potential for a luxury condo building. Ponce Bank provided the purchasers with a …
The post Queens Development Site Sold for $21M appeared first on Connect CRE.