Cheskie Weisz signs 49-year ground lease in LIC

Cheskie Weisz CW Realty’s LIC2604 Jackson Ave LLC, as tenant, signed a 49-year ground lease with landlord Phyllis and Massoud Jadidian for 2 parcels, including the tax class primarily one to six families with stores or offices (S9) and containing 6 residential units at 26-04 Jackson Avenue, 26-08 Jackson Avenue in Long Island City. The memorandum was signed on September 11, 2020 and was recorded on September 16, 2020
The property has 54,126 square feet of total development rights.
Phyllis Jadidian has owned one of the parcel since 1983 and the other was acquired in 2010. The lease runs for 49 years and has two options to renew for 25 years each.

Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link
The signatory for the buyer or lender was Cheskie Weisz