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

Massey Knakal Sells Mixed-Use Building In Woodhaven

04/30/2013

A mixed-use building at 90-07 Jamaica Avenue, located between 90th and 91st Streetsin the Woodhaven neighborhood of Queens, was sold in an all-cash transaction valued at $910,000.

The two-story building contains approximately 2,696 square feet and sits on a 24’ x 108’ irregular lot.  It consists of one commercial space on the ground floor, currently leased to T-Mobile, and two one-bedroom apartments on the second floor.  Each tenant has their own boiler and electric and gas meters.  The sale price equates to approximately $338 per square foot and an 8% capitalization rate.

This property is ideally located on Jamaica Avenue just two blocks west of Woodhaven Boulevard near transportation and many neighborhood amenities.

“The property garnered a high amount of interest due to the desirable location and solid retail tenant,” said Massey Knakal Director of Sales Stephen R. Preuss, who exclusively represented the seller in this transaction with Director of Sales Brian J. 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 4,500 transactions having a market value in excess of $17 billion.

www.masseyknakal.com

04/30/2013 - 08:44

Source

Cushman & Wakefield Capital Markets Group New York

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