Heritage Equity Partners buys LIC site for $17M

41-21 28th Street
41-21 28th Street

UPDATE, 3:32 p.m., Dec. 4: Heritage Equity Partners picked up a two-story, 27,000-square-foot warehouse near Queens Plaza North in Long Island City for $17 million, according to city property records.

The Midtown East firm bought the site at 41-21 28th Street, which is zoned for residential and manufacturing use. The seller, developer Joe Goodman, was planning for a 139-unit residential project at the site, as The Real Deal reported.

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The building was established in 1923 and last modified in 1995. The floor area ratio is currently 1.75, but could be built to a ratio of 8, according to Brownstoner, citing PropertyShark data. [Brownstoner]Mark Maurer