Once-abandoned Long Island City rowhouse gets $3M

New York /
Sep.September 27, 2013 03:33 PM

A long-abandoned five-story rowhouse in Long Island City has sold for $3 million, and setting a record for the nabe’s priciest single-family home sale.

Developer Eyal Schuster, also behind nearby One Murray Park, bought the long-abandoned home at 5-31 51st Avenue for $400,000 in October 2011. He then set about stripping and renovating the home, keeping a few details such as arched brick windows and metal studs.

The overhaul set him back over $1 million.

The buyers, a Greek family from Queens who were not further identified by the New York Daily News, wanted to find a place for their three children. Core’s Doron Zwickel and Brittany Fox had the listing.

Darius and Marina Tencza, who filed suit in May 2010 against Manhattan-based developer Andalex Group for an alleged violation of the Interstate Land Sales Full Disclosure Act, known as ILSA, paid $2.995 million for their 27-78 Thomas Avenue loft earlier that year — the next-priciest single-family sale in the area to date. [NYDN]Julie Strickland


Related Articles

arrow_forward_ios
Clay Grubb (Glen Lennox, Getty)
Grubb Properties tests affordable housing model in NYC
Grubb Properties tests affordable housing model in NYC
Pink Stone sells languishing FiDi site for $89M
Pink Stone sells languishing FiDi site for $89M
Pink Stone sells languishing FiDi site for $89M
Vorea, Domain and L+M close on $88M LIC development site
Vorea, Domain and L+M close on $88M LIC development site
Vorea, Domain and L+M close on $88M LIC development site
Life sciences firm moves HQ from Dumbo to 48K sf in LIC
Life sciences firm moves HQ from Dumbo to 48K sf in LIC
Life sciences firm moves HQ from Dumbo to 48K sf in LIC
LIC developer secures $56M construction loan for stalled mixed-use project
LIC developer secures $56M construction loan for stalled project
LIC developer secures $56M construction loan for stalled project
The Jacx at 28-07 Jackson Avenue and Tishman Speyer’s Rob Speyer (The Jacx, Tishman Speyer)
What tenants pay at Tishman Speyer’s The Jacx in LIC
What tenants pay at Tishman Speyer’s The Jacx in LIC
A rendering of The Jacx at 28-07 Jackson Avenue and Tishman Speyer's Rob Speyer (Tishman Speyer, Getty)
Tishman Speyer gets $425M loan for The Jacx in Long Island City
Tishman Speyer gets $425M loan for The Jacx in Long Island City
NYC newcomer Grubb Properties plans 317 units in LIC
NYC newcomer Grubb Properties plans 317 units in LIC
NYC newcomer Grubb Properties plans 317 units in LIC
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...