ZD Jasper Realty pays $12.75M for dev site in Long Island City

ZD Jasper Realty paid a total of $12.75 million for two adjacent parcels making up a development site in Long Island City, Queens, in two transactions with two separate sellers. The development site wraps around the corner property, 46-30 11th Street, a vacant lot which is owned by an entity that has Wael Reda as manager.

In the larger transaction, ZD Jasper Realty through the entity 46-34 11 St Holding LLC paid $10.9 million to the Alan J. Braverman Charitable Remainder Unitrust for the office building (O5) at 46-32 11th Street in Long Island City, Queens. The expected use is ground up development.
In the second, ZD Jasper Realty through the entity 46-34 11 St Holding LLC paid $1.85 million to Luis Rodriguez for the single-family home at 10-54 46th Road in Long Island City, Queens.

The deals closed on September 18, 2025 and were recorded on September 30, 2025. The larger property has 9,700 square feet of built space and 22,831 square feet of additional air rights for a total buildable of 32,500 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $1,123 and the price per buildable square foot is $335 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 Alan J. Braverman was James C. Tack . The signatory for ZD Jasper Realty was Jasper Wu . The contract date was January 2, 2025.

The contract date on the smaller sale was July 2, 2025.

Prior sales and revenue

Prior to this transaction, PincusCo has records that the buyer ZD Jasper Realty purchased eight properties in seven transactions for a total of $137.2 million and has no record it sold any properties over the past 24 months.
The seller Alan J. Braverman had not purchased any other properties and had not sold any properties over the same time period. The 9,700-square-foot property generated revenue of $259,863 or $27 per square foot, according to the most recent income and expense figures.

The property

The office building in Long Island City has 9,700 square feet of built space and 22,831 square feet of additional air rights for a total buildable of 32,500 square feet according to a PincusCo analysis of city data. The parcel has frontage of 25 feet and is 75 feet deep with a total lot size of 8,125 square feet. The lot is irregular. The zoning is M1-4/R7A which allows for up to 2 times floor area ratio (FAR) for manufacturing and up to 4 times FAR for residential with inclusionary housing. The city-designated market value for the property in 2022 is $1 million.

Violations and lawsuits

There were no lawsuits or bankruptcies filed against the property for the past 24 months. In addition, according to city public data, the property has not received any significant violations in the last year.

Development

There are no active new building construction projects or major alteration projects with initial costs more than $1 million on this tax lot.

The neighborhood

In Long Island City, The bulk, or 32 percent of the 60.1 million square feet of commercial built space are industrial buildings, with elevator buildings next occupying 31 percent of the space. In sales, Long Island City has 3.4 times the average sales volume among other neighborhoods with $988.5 million in sales volume in the last two years and is the highest in Queens. For development, Long Island City is the 9th most active neighborhood among other neighborhoods. It had 6.5 million square feet of commercial and multi-family construction under development in the last two years, which represents 11 percent of the neighborhood’s built space. There was one pre-foreclosure suit filed among other office buildings in the past 12 months.

The block

On this tax block, PincusCo has identified the owners of seven of the 19 commercial properties representing 37,436 square feet of the 87,822 square feet. The largest owner is Angelo Mottola, followed by Angelo Ippolito and then Ida Cerbone Revocable Living Trust.
There are no active new building construction projects on this tax block.

The majority, or 36 percent of the 87,822 square feet of built space are walkup buildings, with office buildings next occupying 28 percent of the space.

The buyer

The PincusCo database currently indicates that Zd Jasper Realty owned at least 22 commercial properties with 484 residential units in New York City with 245,940 square feet and a city-determined market value of $61.9 million. (Market value is typically about 50% of actual value.) Within the portfolio, the bulk, or 48 percent of the 245,940 square feet of built space are industrial properties, with elevator properties next occupying 20 percent of the space. The bulk, or 80 percent of the built space, is in Queens, with Manhattan next at 20 percent of the space.

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