Davis Companies pays $17M to Hazelton Capital Group for an interest in property in Long Island City

Davis Companies, based in Boston, through the entity TDC LIC LLC paid Hazelton Capital Group’s LIC Manager Qozf LLC $16.7 million for an interest in 39-40 30th Street in Long Island City. The deal closed on December 31, 2019, and was recorded on January 27, 2020. The transaction consists of 1 parcel, including the tax class office building with commercial with one to six stories (O5). The property is 20,000 square feet. The parcel(s) have total development potential of 69,980 square feet.
The average sale price per square foot is $239.

The last time the property sold was March 19, 2019, for $15,200,000. Hazelton Capital borrowed $35 million from Santander Bank in December.
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 has been one new building permit application totaling 70,835 square feet. Those plans include a total of 103 residential or hotel units. There has been one demolition project filed for the parcels over the past five years.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

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