150 Jr Group LLC paid $5M to Northern Murray Equity

150 Jr Group LLC paid Northern Murray Equity Inc. $5.0 million for 2 parcels, including the tax class land not zoned residential or Manhattan below 110th Street (V1) at 150-54 Northern Boulevard, Murray Street in Flushing. The deal closed on August 22, 2019 and was recorded on September 10, 2019. The parcel(s) have total development potential of 23,463 square feet.
The average sale price per square foot is $426.
The estimated cap rate is 1.7%

Over the past five years, there has been one NYC Department of Buildings permit application filed for this parcel valued at more than $20,000. There has been one demolition project filed for the parcels over the past five years.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

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