Botanic Properties in care of Carlyle Group pays $40M to Atlas Capital for LIC school building

Botanic Properties in care of the Carlyle Group through the entity 24-02 OPS Owner, L.L.C. paid Atlas Capital Group’s Forchu Rock LLC $40 million for 24-02 Queens Plaza South in Long Island City. The deal closed on September 14, 2020, and was recorded on September 17, 2020. The transaction consists of 1 parcel, including the tax class training schools (W4). The property is 74,105 square feet. The parcel(s) have total development potential of 184,355 square feet.
The average sale price per square foot is $217.

The buyer signatory was Joshua Zinns, founder of Botanic Properties, while the owner entity address was in care of the private equity giant the Carlyle Group. The contract date was September 14, 2020, the same as the closing date. The last time the property sold was December 9, 2011, for $13,500,000.
The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building on August 20, 2012.

Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

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