Commercial and logistics firm LBA Realty pays $26M for vacant land in Maspeth
58-38 47th Street, Maspeth (Credit: Google Earth)
LBA Realty through the entity LBA Or Core-Company IV, LLC paid Dino Tomassetti Jr. of the Laquila Group’s LDT Enterprises, LLC $26 million for 58-38 47th Street in Maspeth, Queens. The deal closed on June 3, 2020, and was recorded on June 8, 2020. The transaction consists of 1 parcel, including the tax class miscellaneous open space (Z9). The lot is 89,508 square feet. The parcel(s) have total development potential of 179,355 square feet.
The average sale price per square foot is $145. The parcel is adjacent to the Newtown Creek.
Steven Layton’s California-based LBA Realty in 2018 partnered with RXR Realty to pay $72 million for 55-15 Grand Aveneue in Maspeth, about three blocks east of the new site, where they would build a multi-story logistics building which Crain’s reported last year would be leased to Amazon.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link