Massey Knakal Retained Exclusively To Sell Net Leased City Of New York Portfolio - Two Community Child Care Centers
Massey Knakal Realty Services has been retained on an exclusive basis to sell a portfolio of two community child care centers, located at 34-10 108th Street in the Corona neighborhood of Queens and 670-680 East 219th Street in the Williamsbridge neighborhood of the Bronx. The asking price for the portfolio is $8,000,000, 000 equating to a 7% cap rate.
The buildings total approximately 45,470 square feet and are currently leased and operated by the City of New York. All expenses, including real estate taxes, are paid by the tenants.
34-10 108th Street, located on the corner of 34th Avenue and 108th Street, is a two-story building currently operating as the Child Center of Corona. It contains approximately 22,290 square feet, with a 5,000 square foot onsite roof playground, and sits on a 220’ x 85’ lot. The building is located one block from Flushing Meadows-Corona Park and Northern Boulevard.
670-680 East 219th Street, located between Willet Avenue and White Plains Road, is a two-story building operating under the Williamsbridge NAACP for the past 42 years. It contains approximately 23,180 square feet, with a 6,500 square foot onsite roof playground, and sits on a 148’ x 155’ lot. The building is located less than a mile from the Bronx River Parkway.
For more information on this listing, contact Stephen R. Preuss at 718.275.3400 or Karl Brumback at 212.696.2500.
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.