29-16 40 Avenue
Long Island City, Queens
Parcel ID (BBL): 4004020032
Owner: Sb Development Group
Acquired: August 11, 2022, $19 million
Debt: August 23, 2024, $83 million
Built: 2024
SF: 165,002
Dwelling units: 109
No. of buildings: 1
Class: Fireproof – With Stores (D6)
Floors: 12
Legacy BBLs: 4004020016
Transactions:
• Company sold 29-24 40th Avenue, Long Island City, Queens for $0 to company on August 23, 2024.
• SB Development Group borrowed $83 million from iCross Capital for 29-26 40th Avenue, Long Island City, Queens on August 23, 2024.
• Company sold 29-26 40th Avenue, 29-15 40th Road, and 29-13 40th Road, Long Island City, Queens for $0 to company on January 23, 2024.
• SB Development Group borrowed $16.7 million from iCross Capital for 29-24 40th Avenue, 29-15 40th Road, and 29-13 40th Road, Long Island City, Queens on November 22, 2023.
• SB Development Group borrowed $13 million from iCross Capital for 29-24 40th Avenue, Long Island City, Queens on August 31, 2023.
Development:
• Ibraim Redza filed plans for alteration in Long Island City, Queens, on April 03, 2025.
• Ibraim Redza filed plans for alteration in Long Island City, Queens, on December 05, 2024.
• Ibraim Redza filed plans for alteration in Long Island City, Queens, on November 18, 2024.
• Ibraim Redza filed plans for alteration in Long Island City, Queens, on October 10, 2024.
• Joseph Stern filed plans for alteration in Long Island City, Queens, on September 17, 2024.
Violations:
According to city public data, the properties have received one DOB violation, $55,090 in ECB penalties, and $55,090 in OATH penalties in the last year.