Israel Weinberger pays $11M for office property in Rockaway Park

Israel Weinberger through the entity 2 Beach 102 LLC, along with other entities, paid Alphonse Catanese Jr., $11.3 million for 2-34 Beach 102nd Street in Rockaway Park. The deal closed on September 4, 2019, and was recorded on September 23, 2019. The transaction consists of 1 parcel, including the tax class professional-type office building (O7). The property is 163,380 square feet. The parcel(s) have total development potential of 163,380 square feet.
The average sale price per square foot is $121.
The estimated cap rate is 2.7%

The DOB issued a new construction (NB) initial temporary certificate of occupancy for the building on April 10, 2019.

Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

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