Steven Li signs $2.6M contract to buy second dev site on Kew Gardens block

Steven Li through the entity Grosvenor Realty Group II LLC signed a memorandum of purchase contract with Melvyn Kivel for a vacant residential land parcel (V0) at 82-77 116th Street in Kew Gardens. The memorandum was signed on July 15, 2020 and was recorded on August 14, 2020.
The property has 20,252 square feet of available development rights.

Melvyn Kivel filed plans in 2004 to build a 16-unit building on the parcel, but the plans were never permitted.  A two-story building which had been on the parcel was demolished in 2006. The original contract date was March 3, 2020. The closing date was not disclosed.

The contract price is $2.649 million.

Steven Li purchased a parcel on the same block but not contiguous, in 2017 and filed a building permit application in 2018 for a 17-unit structure.

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