Anthony Bonfigli through the entity Cassinelli Realty, Inc paid $2.7 million to Hui Hao Xu through the entity Huang Family Properties LLC for the four-unit 1-4 family building (C3) at 60-40 67th Avenue in Ridgewood, Queens.
The deal closed on July 12, 2023 and was recorded on July 20, 2023. The property has 3,000 square feet of built space and 45 square feet of additional air rights for a total buildable of 3,037 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $900 and the price per buildable square foot is $888 per the PincusCo analysis. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.)
The seller bought the property on June 23, 2022, for $1.3 million. The signatory for Hui Hao Xu was Hui Hao Xu.
Prior sales and revenue
Prior to this transaction, PincusCo has no record that the buyer Anthony Bonfigli had purchased any other properties and sold one property in one transaction for a total of $3.1 million over the past 24 months.
The seller Hui Hao Xu had not purchased any other properties and had not sold any properties over the same time period. The former owner according to the Department of Housing Preservation and Development is Jianle Huang, head officer. The business entity is Huang Family Properties Llc. The 3,000-square-foot property generated revenue of $55,500 or $18 per square foot, according to the most recent income and expense figures.
The building with 4 residential units in Ridgewood has 3,000 square feet of built space and 45 square feet of additional air rights for a total buildable of 3,037 square feet according to a PincusCo analysis of city data. The parcel has frontage of 25 feet and is 90 feet deep with a total lot size of 2,250 square feet. The zoning is R5B which allows for up to 1.35 times floor area ratio (FAR) for residential. The city-designated market value for the property in 2022 is $547,000.
Violations and lawsuits
There were no lawsuits or bankruptcies filed against the property for the past 24 months. In addition, according to city public data, the property has not received any significant violations in the last year.
There are no active new building construction projects or major alteration projects with initial costs more than $1 million on this tax lot.
On this tax block, PincusCo has identified the owners of one of the four commercial properties representing 4,716 square feet of the 13,428 square feet. The identified owner is Johnny C. Din.
There are no active new building construction projects on this tax block.
The majority, or 100 percent of the 13,428 square feet of built space are walkup buildings, with development buildings next occupying 0 percent of the space.
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