July 9, 2015 By Jackie Strawbridge
Citigroup has sold a nearly one-acre lot in Court Square for $143 million, according to City records.
Consisting of nine parcels – which are mostly vacant or industrial properties – the development site lies between 44th Road and 44th Drive next door to the CUNY School of Law and across the street from the Citi tower.
Citigroup made headlines in February when the site was put on the market.
According to published reports, the site offers roughly 780,000 square feet of developable land. It is zoned in a commercial district that allows retail, residential, hotels and some manufacturing.
One of the buyers listed in Department of Finance documents is Jia Shu Xu, a Flushing-based developer of C&G Empire Realty, who has a handful of projects planned throughout the borough.
The buyers’ attorney did not respond to calls or emailed requests for comment.
