iCross Capital pays $6.2M for industrial in Long Island City

Lily Guo’s iCross Capital through the entity Realty 41 LLC paid $6.2 million to Allyson Shepherd through the entity Hope Enterprise Inc. Of New York for industrial (E9) at 28-12 41st Avenue in Long Island City, Queens.
The deal closed on June 29, 2021 and was recorded on July 13, 2021.
The property has 5,000 square feet of built space and 20,000 square feet of additional air rights for a total buildable of 25,000 square feet according to PincusCo analysis of city data. The sale price per built square foot is $1,235 and the price per buildable square foot is $247 per the PincusCo analysis.
The signatory for Allyson Shepherd was Allyson Shepherd. The signatory for iCross Capital was Lily Guo.
(420554126)The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building on May 13, 2014.
Lily Guo is president of iCross Capital.
Within a 400-foot radius of 28-12 41st Avenue, PincusCo identified five commercial real estate items of interests occurred over the past 24 months.
Of those five items, one was in new building development. It was a new building permit issued on December 4, 2019 for a 96,879-square-foot residential R-2 building with 86 residential units residential units at 41-05 29th Street.
One of those five items was a sale which Arik Lifshitz’s DSA Property Group bought the 96,456-square-foot, 104-unit rental (D6) on 41-15 29th Street and one other property for $47 million from Jack Guttman on November 27, 2019.
Of those five items, three were loans above $5 million totaling $99.5 million. The most recent of the three was SB Development Group which borrowed $55 million from Slate Property Group secured by the 91,114-square-foot, 88-unit rental (D7) on 41-05 29th Street on May 26, 2021.

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