Massey Knakal Sells Development Site in Elmhurst
A development site at 82-28 Grand Avenue, located on the southwest corner of Grand Avenue and 83rd Street in Elmhurst, New York, was sold in an all-cash transaction valued at $875,000
The site contains a single-story, 2,500 square foot commercial building with approximately 3,430 square feet of on-site parking. The site has approximately 55 feet of frontage on Grand Avenue and approximately 107 feet of frontage on 83rd Street. It is situated in an R4 and C1-3 zoning district which allows for an “as of right” maximum development potential of approximately 5,930 square feet.
“This site sold for close to $150 per buildable square feet,” said Massey Knakal Partner Thomas A. Donovan who exclusively handled this transaction with Director of Sales Stephen Palmese.
Massey Knakal specializes in the sale of investment and user properties in the New York Metropolitan area. Since 1988, our agents have closed over 4,200 transactions having a market value in excess of $15 billion.