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

Massey Knakal Sells Mixed-Use Building In Richmond Hill

05/27/2014

A mixed-use building at 114-21 Jamaica Avenue, located on the northwest corner of Jamaica Avenue and 115th Street in Richmond Hill, Queens, was sold in a transaction valued at $800,000.

The three-story corner building contains approximately 4,830 square feet and sits on a 23’ x 100’ lot.  It consists of four commercial units, one two-bedroom apartment, and one three-bedroom apartment. The sale price equates to approximately $166 per square foot.

The property is located on a highly visible corner on a major thoroughfare, near the J subway line and several bus lines. It is an excellent investment opportunity with significant upside.

“This corner property brought in several offers close to the asking price due to the upside potential in the current rent levels,” said Massey Knakal’s Stephen Preuss, who exclusively handled this transaction with Brian Sarath.

Massey Knakal specializes in the sale of investment and user properties in the New York Metropolitan area. Since 1988, our agents have closed over 4,700 transactions having a market value in excess of $19 billion.

www.masseyknakal.com

05/27/2014 - 09:52

Source

Cushman & Wakefield Capital Markets Group New York

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