More details emerge for Jacob Schwimmer’s LIC development
Developer Jacob Schwimmer and JCS Realty Group filed plans for a 495-unit residential project in Long Island City, Queens this month, but didn’t appear to own the necessary site. They still don’t, but they have a deal with a buyer who does. Texas-based Montgomery Street Partners acquired the site at 10-01 45th Road from the heirs of Dieter Holterbosch for $95 million, Crain’s reported. The deal for the 80,000-square-foot site breaks down to $1,188 per square foot. In addition to acquiring the site, Montgomery Street entered into a lease agreement with JCS, which will develop the site that once housed […]
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