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

Massey Knakal Retained Exclusively To Sell The Queens Boulevard Assemblage - 560 Feet Of Frontage On Queens Boulevard

09/20/2012

Massey Knakal Realty Services has been retained on an exclusive basis to sell 7900 Queens Boulevard, currently home of the Pan American Hotel. The assemblage occupies the entire block-front on the south side of Queens Boulevard between 51st Avenue and Hillyer Street in Elmhurst, Queens. While the hotel is currently operational, the site may be delivered vacant upon possession allowing for alternative uses.            

The assemblage consists of a seven-story, 86,500 square foot hotel building consisting of 216 rooms. The property is situated on seven contiguous lots totaling approximately 77,125 square feet. Additionally, there are ground floor retail units, amenity space and parking garages. Situated in a C4-2 zoning district, there is approximately 165,275 square feet of additional development potential.

Given the size of the lot, the large number of rooms, ample parking space and the ability to be delivered vacant, this site could be suitable for a nursing home, retirement community or adult housing or other various health care facilities.

The assemblage benefits from approximately 546 feet of frontage on 51st Avenue, 175 feet of frontage on Hillyer Street and 560 feet of frontage on Queens Boulevard. Queens Boulevard, the largest major thoroughfare in Queens, runs from Jamaica to the 59th Street Bridge connecting Queens to Manhattan. It provides easy access to the Long Island Expressway, Brooklyn Queens Expressway, Van Wyck Expressway and the Grand Central Parkway, LaGuardia Airport and John F. Kennedy Airport.

For offering price and confidentiality agreement, please contact  Massey Knakal Partner Thomas A. Donovan, Director of Sales Tommy Lin or Director of Sales Eugene Kim 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

 

09/19/2012 - 16:37

Source

Cushman & Wakefield Capital Markets Group New York

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