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

Massey Knakal Sells Mixed-Use Building In Long Island City

06/27/2013

A mixed-use building at 10-57 Jackson Avenue, located between 49th and 50th Avenuesin the Long Island City neighborhood of Queens, was sold in an all-cash transaction valued at $2,260,000.

The three-story building contains approximately 4,300 square feet and sits on a 25’ x 80’ lot.  It consists of two commercial units and one residential unit, with a restaurant on the ground floor, an office on the second floor, and a two-bedroom apartment on the third floor.  The property has a new roof and holds additional air rights.  The sale price equates to approximately $526 per square foot.

This property features a prime Long Island City location, just steps from the entrance to the 7 subway line at Vernon-Jackson.

“Due to extremely high demand for investment properties in Long Island City, especially in the Court Street district, this property traded at a record $526 per square foot,” said Director of Sales Evan J. Daniel, 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 4,500 transactions having a market value in excess of $17 billion.

www.masseyknakal.com

06/27/2013 - 08:18

Source

Cushman & Wakefield Capital Markets Group New York

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