A 108,000 buildable square foot development site located at 45-57 Davis Street in Long Island City, Queens has been purchased by the Vorea Group in a $21.650 million transaction. The 21,600 sqf site is zoned for a mixed-use, residential and commercial space. Located on the east side of Davis Street across from Five Pointz where a two-tower, mega-rental project is planned. Cushman & Wakefield’s Senior Managing Director Stephen R. Preuss represented the seller, 45-57 Realty Corp. “The purchase presents a tremendous opportunity to capitalize on the growing demand for multiple asset classes in Long Island City,” said Stephen R. Preuss of Cushman & Wakefield. “Long Island City is rapidly emerging into a sought-after New York City neighborhood with its proximity to Manhattan and rising residential market.”
