Lightstone Joins Taxi Company’s 10-Story LIC Project

Published on Nov 26, 2014 | posted by Carolina Bergara

Updated, 12:06 p.m., Nov. 26: The owner of a Long Island City yellow-cab company has brought on The Lightstone Group a joint venture partner to develop a 10-story mixed-use building in the Queens Plaza North neighborhood, The Real Deal has learned.

Theodore Strauel, owner of the Team Systems Corp. taxi company, filed an application with the buildings department today to construct a 10-story, 428-unit building on the southern end of a block-sized parking lot at 30-07 40th Avenue. The lot houses Team Systems’ fleet of cabs.

To develop the property, Strauel has brought on The Lightstone Group as a JV partner, a source told TRD.

Lightstone could not be immediately reached for comment.

David Junik and Decio Baio of Pinnacle Realty represented both sides of the transaction in an off-market deal, a separate source said.

Read more at The Real Deal