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An investment
partnership led by Joseph Yushuvayev and Uri Mermelstein of Top Rock Holdings
has acquired a Forest Hills development site with plans to build two apartment
buildings.
JLL Capital Markets announced that it brokered the $31.7 million sale of the 57,035 s/f lot at 70-35 113th Street on behalf of the seller, Jasper Venture Group.
The buyer, a partnership of Top Rock, RJ Capital Group &
SYU Properties, will build two multi-housing development projects totaling 318,238
s/f
The project encompasses a 235,679 s/f free-market multi-housing
development, in addition to an 82,559 s/f senior affordable living development.
70-35 113th St. is situated three blocks from the Forest Hills-71st Ave. E, F, M and R train, enabling residents to reach Long Island City in 20 minutes and Manhattan in 25 minutes.