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Deals & Dealmakers

ON THE SCENE: Ariel tapped for largest site in new Queens hood, Cervelli sells five in NJ

AGENTS

Ariel Property Advisors has been retained to sell the Merrick Boulevard Assemblage, the largest development site in the growing residential Queens neighborhood of Laurelton. The asking price for the asset, which is comprised of three contiguous lots, is $9.25 million. The property, located at 221-06/221-26 Merrick Boulevard and 134-11 221st Street, offers 593 feet of frontage on one of the most heavily trafficked thoroughfares in southeastern Queens. With a lot area of 49,838 square feet, the R5D/R3A/C2-3 zoning allows for 99,676 buildable square feet for development. Zoning permits medium density development on Merrick Boulevard. Exclusive agents Jason M. Gold, Alexander Taic, Victor Sozio and David Khukhashvili are representing the owner.
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Cushman & Wakefield has been retained on an exclusive basis to arrange the sale of two properties; one located in Queens and one in Brooklyn. The properties range in price from $3.2 million to $15 million. A team led by Senior Managing Director Stephen R. Preuss will represent the sellers in all marketing efforts.
• 166-36 Jamaica Avenue in Downtown Jamaica is a 28,800 s/f commercial building within a qualified opportunity zone. The property is ideal for retail, office, hotel or residential use, and experiences a high-level of foot traffic and an average daily traffic of over 34,000 cars. The property consists of a six-story commercial building with approximately 48 ft. of frontage on Jamaica Avenue and approximately 100 ft. of frontage on 168th Street.
• 1729 Broadway in Bushwick. The property consists of two adjacent lots, each lot equaling approximately 2,000 square-feet. 1729 Broadway offers up to 12,000 buildable square feet as or right, or a maximum buildable square footage of approximately 19,200 square feet. Steps away from the property is the conveniently located Chauncey St / Broadway subway stop servicing the J & Z lines. The asking price is $3.2 million.
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EPIC Commercial Realty has been retained to broker the sale of 288 East 169th Street, a brand-new mixed-use building in Concourse Village, Bronx. 288 East 169th Street is a 4-story mixed-use building consisting of 8,875 s/f of built area, with seven residential units and the ground floor retail. Ido Tzaidi, Sasi Elya and Emmanuel Ukah have listed 288 East 169th Street at $3,400,000.

SALES

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Cervelli Real Estate & Property Management announced the following sales:
• A mixed-use property in the Greenville section of Jersey City, comprised of one commercial space and one residential space, sold for $265,000.
• In Union City, Cervelli assisted in the sale of a 5-unit residential building at 615 4th Street that sold for $625,000, and a mixed-use building with six residential units and one commercial space located at 4540 Bergenline Ave that traded for $1,530,000.
• Cervelli sold two more buildings located on Polk Street in Guttenberg. One was a warehouse that is well-suited for redevelopment that sold for $1,080,000, and the other was a 7-unit apartment building that sold for $1,275,000.

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