HC Contracting pays $8.4M to Slate Property Group for property in LIC

HC Contracting through the entity Dutch Vortex LLC paid Slate Property Group’s 37-11 30th Street Holdings LLC $8.4 million for a building on 31st Street in Long Island City, Queens. The deal closed on August 19, 2020, and was recorded on August 26, 2020. The transaction consists of 1 parcel.

The contract date was August 18, 2020, a day before the closing date. This is a portion of tax lot 8 that Slate bought on March 28, 2018, for $31,512,911. That lot was subsequently divided with a portion of the lot retaining the tax lot number 8 and a new tax lot created, 107. Slate remains in possession of tax lot 107, where it is developing a new building. It also acquired development rights and easements from the seller.

Over the past five years, there have been 5 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 3 major renovation applications including a certificate of occupancy change (A1) filed with a total estimated value of $700,000. There were 2 renovation/alteration projects (A2) applied for with a total estimated value of $79,040.
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 Joseph Ferrara