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

Massey Knakal Sells Newly-Built Community Facility Building In Flushing

03/27/2013

A community facility building at 149-34 35th Avenue, located between 149th Place and 150th Street in the Flushing neighborhood of Queens, was sold in an all-cash transaction valued at $3,100,000.

The three-story building with finished cellar contains approximately 9,000 square feet and sits on a 60’ x 100’ lot.  It was previously operated as a preschool and daycare center, which had a capacity for approximately 200 children.  The property was completed in 2009 by an experienced developer and has been built with the highest quality construction.  Improvements include state of the art mechanics, new elevator, and high-end finishes.  It is currently configured with 12 classrooms, two offices, and a playground located on the roof.  A parking area is located in front of the building suitable for several cars. Located one block north of Northern Boulevard in the heart of Flushing, the building will be occupied by a school. The sale price equates to approximately $344 per square foot.

“This transaction was another example of the high demand for quality assets in the Flushing marketplace,” said Massey Knakal Director 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 4,500 transactions having a market value in excess of $17 billion.

www.masseyknakal.com

03/27/2013 - 12:27

Source

Cushman & Wakefield Capital Markets Group New York

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