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

Cushman & Wakefield Sells Comemrcial Building with Development Potential in Downtown Flushing

02/27/2015

A commercial building with development rights at 142-26-30 Roosevelt Avenue, located between Union and Bowne Streets in the downtown Flushing neighborhood of Queens, was sold in an all-cash transaction valued at $6,800,000.

The property currently consists of a two-story commercial building, containing approximately 5,476 square feet on a 39’ x 179’ lot. Zoned C2-2/R6, it holds approximately 21,060 buildable square feet as-of-right.  The sale price equates to approximately $1,242 per square foot and $322 per buildable square foot.

The property is located on Roosevelt Avenue, one of the busiest retail corridors of Queens.  It is two blocks away from the heavily trafficked #7 Main Street subway station.

“This location is one of the busiest and most trafficked areas in all of Queens and this property provided the buyer a rare opportunity to acquire a site in the desirable downtown Flushing marketplace,” said Cushman & Wakefield’s Stephen R. Preuss, who exclusively handled this transaction.

02/27/2015 - 18:00

Source

Cushman & Wakefield Capital Markets Group New York

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