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

Massey Knakal Sells Apartment Building In Flushing

12/12/2012

An apartment building at 35-11/15 Linden Place, located between 35th Avenue and Carlton Placein the Flushing neighborhood or Queens, was sold in an all-cash transaction valued at $2,925,000.

This four-story 18-unit walk-up apartment building contains approximately 12,000 square feet and sits on a 50’ x 100’ lot.  It consists of ten two-bedroom apartments, four one-bedroom apartments, two studios, and two community facility units with a parking lot in the rear.  This brick construction was built in 2000, and is in very good condition. It has tax abatement in place until 2015.  The sale price equates to approximately $244 per square foot.

This rarely available and desirable multifamily opportunity is located in the heart of Flushing just one block north of Northern Boulevard.  Downtown Main Street, Union Street, College Point Boulevard, the Van Wyck Expressway, and the 7 train are all in close proximity.

“The proximity of this building to Downtown Flushing was a driving factor for the great amount of interest we received for this asset” said Massey Knakal First Vice President of Sales Stephen R. Preuss, who exclusively handled this transaction.

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

12/12/2012 - 11:56

Source

Cushman & Wakefield Capital Markets Group New York

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