Jerry Jue Wang pays $11.3M for warehouse in College Point held nearly 60 years

Jerry Jue Wang through the entity Jia Wing Realty LLC paid Robert Peter Stockel’s John A. Vassilaros & Son, Inc. $11.3 million for 129-05 28th Avenue in Queens. The deal closed on December 28, 2020 and was recorded on January 19, 2021. The transaction consists of 1 parcel, including the tax class miscellaneous warehouse (E9)The property is 28,320 square feet. The parcel(s) have total development potential of 28,320 square feet.
The average sale price per square foot is $401.

The seller entity acquired the property in 1962. The contract date was November 3, 2020.
Over the past five years, there has been one NYC Department of Buildings permit application filed for this parcel valued at more than $20,000.

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