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

Massey Knakal Retained Exclusively To Sell Apartment Building In Elmhurst

04/04/2013

Massey Knakal Realty Services has been retained on an exclusive basis to sell an apartment building at 56-10 94th Street. The property is located on the entire western block front of 94th Street between 56th and 57th Avenues in the Elmhurst neighborhood of Queens. The asking price is $24,500,000.

The seven-story elevator-serviced building contains approximately 102,390 square feet and sits on a 170’ x 189’ irregular lot.  It consists of 112 units, of which 12 are studios with an alcove, 35 are one-bedrooms, 53 are one-bedrooms with an alcove, and 12 are two-bedrooms with an alcove.  The building features two elevators, a pool, and a 26-car indoor parking garage.  With average rents below market value, there is tremendous upside potential. 

This is a rare opportunity for an investor to own one of the largest apartment buildings in one of the more desirable neighborhoods of Queens.

For more information on this listing, contact Massey Knakal Partner Thomas A. Donovan at 718.275.3400.

Massey Knakal specializes in the sale of investment and user properties in the New York Metropolitan area. Since 1988, our agents have closed over 4,500 transactions having a market value in excess of $17 billion.

www.masseyknakal.com

04/04/2013 - 09:49

Source

Cushman & Wakefield Capital Markets Group New York

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