Carlyle ditches plans, sells LIC site for $49M

Excerpt from the Real Deal website: Three years after buying a Long Island City site with a commercial building in mind, the Carlyle Group has shuffled it to another developer.

Montperia Group — formerly known as Ampiera Group — and JLS Construction purchased the property at 24-02 Queens Plaza South for $49 million, Crain’s reported. News of the sale was first reported by PincusCo.

Carlyle purchased the home of the Apex Technical School from Atlas Capital in 2020 for $40 million. At the time, Carlyle planned to raze the building and put up a 270,000-square-foot commercial property, according to Crain’s. Apex vacated the site earlier this year, but Carlyle never moved ahead with construction.

Maxim Credit Group provided a $25 million acquisition mortgage to the buyers. Montperia and Carlyle both declined to comment when approached by Crain’s.

Read the full article here: https://therealdeal.com/new-york/2023/08/31/carlyle-sells-lic-site-for-49-million-three-years-after-purchase/