Raymond Masucci sells Staten Island office building for $8.6M

The entity 66 Willow Avenue LLC paid $8.6 million to Raymond Masucci through the entity 4245 N Ocean LLC for the office building (O5) at 66 Willow Avenue in Rosebank, Staten Island.
The deal closed on August 26, 2021 and was recorded on September 27, 2021.
The property has 43,408 square feet of built space and 76,800 square feet of additional air rights for a total buildable of 120,000 square feet according to PincusCo analysis of city data. The sale price per built square foot is $198 and the price per buildable square foot is $71 per the PincusCo analysis. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.)
Over the past five years, there have been 3 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 2 major renovation applications including a certificate of occupancy change (A1) filed with a total estimated value of $250,000.
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