Benaim X Partners recently facilitated a successful $12.3 million deal, selling 60,000 square feet of land in Willets Point to Related, Sterling Equities, and NYCFC. The principal of Benaim X Partners, Eric Benaim arranged the sale with the seller’s identity remaining undisclosed.
The newly acquired land is set to be incorporated into a master-planned neighborhood in Queens that will include a 25,000-seat NYCFC stadium along with other amenities such as affordable housing units (totaling at 2,500), retail spaces and public open areas spanning over an impressive area of 40K sqft. Additionally featured are plans for a school and hotel.
Willets Point Phase 1A has been granted financing worth $360 million as it stands out as being the largest project featuring completely affordable housing within New York City over four decades – this was made possible by securing funding back in December of last year (2023). In support for both housing development and major site infrastructure improvements totaling at more than $420 million committed by The City Of New York towards this ambitious project.
