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

Massey Knakal Sells Corner Office Building in Rego Park

05/30/2012

A two-story office building at 64-57 Woodhaven Boulevard, located on the corner of Woodhaven Boulevard and 65th Avenue in Rego Park, was sold in an all cash transaction valued at $962,500.

The office building is approximately 4,680 square feet and sits on a 51’ x 74’ lot.  There is a single-car garage in the rear of the building and the location features plenty of street parking in the surrounding residential area. The property benefits from tremendous exposure to traffic traveling to and from the Long Island Expressway and Queens Boulevard. The sale price equates to approximately $205 per square foot.

“This property was sold to an owner/user who obtained nearly 100%, favorable financing, which indicates the increased availability of financing in the commercial real estate industry,” said Massey Knakal Partner Thomas A. Donovan 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

05/30/2012 - 09:01

Source

Cushman & Wakefield Capital Markets Group New York

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