Press Release brought to you by Cushman & Wakefield Capital Markets Group New York

Astoria Mixed-Use Building Sold By Massey Knakal

05/10/2012

A mixed-use building at 45-07 Ditmars Boulevard, located between 45th and 46th Streets in Astoria, Queens, was sold in an all cash transaction valued at $850,000.

The two-story property is approximately 2,500 square feet and sits on a 20’ x 110’ lot.  The building is fully occupied and consists of a restaurant on the main floor and two apartments on the second floor. Each apartment features two bedrooms and one bathroom. The property is located directly across the street from Pistilli Manor and just five blocks from the N and Q trains.

The sale price equates to $340 per square foot.  

 “We were able to attain dozens of offers and ultimately identify the buyer within a short marketing period due to the lack of quality investment product in the Queens marketplace,” said Massey Knakal Director of Sales Stephen Preuss who exclusively handled this transaction with First Vice President of Sales Al Holloman.

Massey Knakal specializes in the sale of investment and user properties in the New York Metropolitan area. Since 1988, our agents have closed over 4,200 transactions having a market value in excess of $15 billion.

www.masseyknakal.com

05/10/2012 - 14:00

Source

Cushman & Wakefield Capital Markets Group New York

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