Arik Lifshitz’s DSA Property Group pays $47M to Jack Guttman for property in LIC

Arik Lifshitz’s DSA Property Group through the entity 29-28 41st Avenue Owner LLC paid Jack Guttman’s 41 Big LLC $47.0 million for 29-28 41st Avenue in Long Island City. The deal closed on November 12, 2019, and was recorded on November 27, 2019. The transaction consists of 2 parcels, including the tax class multifamily, fireproof – with stores (D6) and containing 103 residential units. The property is 96,456 square feet.
The sale price per unit is $456,311.
The estimated cap rate is 4.0 percent.
Meridian Capital Group’s Jonathan Shainberg, Amit Doshi and Shallini Mehra represented the seller. Meridian’s David Schechtman, Abie Kassin and Adan Elias Kornfeld represented the buyer. The last time the property sold was May 17, 2010, for $12,750,000.
The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building with 103 residential units on November 14, 2013.
Over the past five years, there have been 2 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 2 renovation/alteration projects (A2) applied for with a total estimated value of $120,500.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link