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

Massey Knakal Retained Exclusively To Sell Retail Building In Woodside

10/01/2012

Massey Knakal Realty Services has been retained on an exclusive basis to sell a retail building at 57-14/16 Roosevelt Avenue. The property is located on the corner of Roosevelt Avenue and 58th Street beside the elevated train in the bustling heart of Woodside, Queens. The asking price has been reduced to $2,900,000.

The building is approximately 6,300 square feet and sits on a 95’ x 68’ lot.  It currently consists of two retail units.  The larger unit, which will be delivered vacant, is 4,200 square feet with 95’ of frontage on Roosevelt Avenue.  The second unit is 2,100 square feet, and is currently leased to a dress shop with a lease expiring in October 2012. 

There is a total of 15,309 buildable square feet as-of-right and with the community facility bonus FAR of 4.80 it could maximize the buildable square footage to approximately 30,240 square feet.  The remaining existing air rights, approximately 9,000 square feet, could be used for a possible second and third floor add-on.  The existing building could also be divided into a retail strip which was the original use for the building.  This rare property is an ideal asset for a user, investor, or developer.

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

10/01/2012 - 08:26

Source

Cushman & Wakefield Capital Markets Group New York

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