Northeast Capital Group pays $29.5M to Ivy Realty for commercial portfolio in Queens

Northeast Capital Group through Cross Island Plaza LLC paid $29.5 million to Ivy Realty through Ivy Cross Island Plaza, LLC for an office building (O2) at 133-33 Brookville Boulevard in Rosedale, Queens, an industrial (G7) building at N/A 133rd Avenue in Rosedale, Queens, and an industrial (G7) building at 242-08 133rd Avenue in Rosedale, Queens.
The deal closed on April 30, 2021 and was recorded on May 10, 2021.
The eight properties have 260,000 square feet of built space and 0 square feet of additional air rights for a total buildable of 108,526 square feet according to PincusCo analysis of city data. The sale price per built square foot is $113 per the PincusCo analysis.
Over the past five years, there have been 18 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 18 renovation/alteration projects (A2) applied for with a total estimated value of $906,010. (421002015)

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