Yong Jie pays $8M for industrial in Elmhurst

Yong Jie through the entity WWJ Group, Inc. paid $8 million to Blanche Weingarten Trust through the entity 82-19 Queens Blvd., Inc. for industrial (E1) at 82-33 Queens Boulevard in Elmhurst, Queens.
The deal closed on November 2, 2021 and was recorded on November 18, 2021.
The property has 13,418 square feet of built space and 19,187 square feet of additional air rights for a total buildable of 32,605 square feet according to PincusCo analysis of city data. The sale price per built square foot is $596 and the price per buildable square foot is $245 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.)
The signatory for Blanche Weingarten Trust was Brittany Sider. The signatory for Yong Jie was Yong Jie.

The seller has owned the property since 1967.
Within a 400-foot radius of 82-33 Queens Boulevard, PincusCo identified two commercial real estate items of interests occurred over the past 24 months.
Of those two items, one was in new building development. It was a new building permit issued on August 5, 2020 for a 30,680-square-foot R-2 building with 33 residential units at 84-18 Queens Blvd.
Of those two items, one was for major renovation including a certificate of occupancy change. It was a permit application filed on August 14, 2021 for the $538,750.0 renovation of 9,283-square-foot R-2 building with nine residential units at 51-21 Van Loon Street.

Direct link to Acris document. link