42-50 24th Street
Update
03/15/24
LIC Development Site Trades for $57.5M
A large, vacant, development site, located at 42-50 24th Street in Long Island City, Queens, has just been sold for $57.5 million. The structure was purchased by United Construction and Development Group from the previous owners, Fisher Brothers and Hakim Organization, in a deal brokered by CBRE.
Spanning 33,950 square feet, the property offers 271,600 buildable square feet. The lot is bound by 23rd Street, 43rd Avenue, and 24th Street. It's not clear just yet what United's development plans are, but it will likely entail multifamily housing.
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