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

Massey Knakal Retained Exclusively To Sell Elevator Office Building With Parking In Bayside

10/09/2012

Massey Knakal Realty Services has been retained on an exclusive basis to sell an elevator office building with parking at 214-25 42nd Avenue. The property is located between Bell Boulevard and 214th Place in Bayside, Queens. The asking price is $8,900,000.

The five-story building is approximately 42,000 square feet and sits on an 80’ x 115’ lot.  It was newly constructed in 2010 and includes a 17-year tax abatement until 2027. 

The building contains three floors of offices and two floors of parking.  The first floor and lower level consists of mainly parking, which includes 65 legal parking spots equivalent to 18,000 square feet.  There is an impressive lobby on the first floor as well, measuring approximately 1,000 square feet.  The second and third floors each consist of 8,000 square feet with turn-key, high-end office space.  The fourth floor consists of 7,000 square feet of office space.   Each floor has separate utilities, bathrooms and entry foyers.

Currently, 50% of the building is rented to quality national, regional, and professional tenants.  Also, there will be 50% of the office space delivered vacant along with 40+ parking spaces available, allowing for a great opportunity for a user or an investor.  This property is ideal for medical or professional use or a school.

The property is located in the heart Bayside, just east of Bell Boulevard and steps from Northern Boulevard.  It is centrally located near public transportation, including the LIRR Bayside train station and several bus lines. There is also quick access to the Long Island Expressway, Grand Central Parkway, the Van Wyck, and the Cross Island Expressway.

For more information on this listing, contact Massey Knakal First Vice President of Sales Stephen R. Preuss 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 4,200 transactions having a market value in excess of $15 billion.

www.masseyknakal.com

10/09/2012 - 10:11

Source

Cushman & Wakefield Capital Markets Group New York

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