The Real Deal New York

Heritage Equity Partners buys LIC site for $17M

December 04, 2013 01:30PM


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.

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