Development Site in LIC’s Court Square Section Trades for $200M

Developer Carmel Partners has purchased the large development site at 43-30 24th Street for $200 million from Stawski Partners — making it one of the priciest-ever Queens development site transactions. The site can accommodate a rental development hosting more than 900-units; and is located at the “edge of the Court Square area that was part of a rezoning in 2001 to allow for taller skyscrapers.” Fully approved plans are currently in-place for a 66-story, 850,000-square-foot project.