ABS Partners Completes Sale of 175-20 Hillside Avenue in Jamaica, Queens
NEW YORK, N.Y. (November 8, 2012) ABS Partners Real Estate, LLC, one of New York City’s foremost real estate services firms, announced today that the firm recently completed the sale of a 15,000-square-foot office building on Hillside Avenue in Jamaica, Queens the asking price was $3.25 million
ABS Partners Managing Directors Steven Solomon and Jason Kling handled the assignment on behalf of both the buyer and the seller.
Built in 1973 and located between 175th and 176th Streets, the professional office space comprises three-stories and a lobby. In addition to an elevator lobby and two stairways, the stilted building provides 25 parking spaces. A mix of perimeter offices and open work areas, the property is set on an 8,000 square-foot lot.
“The building has tremendous upside for the buyer,” Solomon said. “The generous parking lot and the proximity to both bus transportation, Q3, Q2, Q1, Q4, Q76, Q77 and the F train* makes this building very attractive to tenants.”
The main tenant, Allen Health Care, will be vacating the building in November and the new ownership has plans to renovate the building and offices, according to Kling.
About ABS Partners Real Estate
ABS Partners Real Estate, LLC is a premier New York-based real estate services firm. Founded by industry leaders with more than a century of collective experience, ABS has assembled a dynamic team of professionals with expertise in all facets of real estate services, including owner-advisory services, leasing, sales and property management. ABS also specializes in land use and ground lease consultation, the transfer of development rights, fractional ownership valuation, FAR valuation, and services specifically related to the issues faced by families holding real estate for multiple generations.