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Deals & Dealmakers

ON THE SCENE: CBRE and Cushman & Wakefield tapped for various Queens properties

AGENTS

CBRE has been named the exclusive leasing agent for the largest block of available office space in Flushing, NY. The 20,000-sq.-ft. space is on the top floor of Queens Crossing, a 12-story mixed-use development located at 136-20 38th Avenue in the heart of Downtown Flushing. Roy Chipkin of CBRE is marketing the top-floor office space on behalf of the landlord.
The available space at Queens Crossing features high-end finishes, making it suitable for executive office use. The full floor features an open layout with conference rooms and private glass offices.
Queens Crossing is a mixed-use development in Flushing that features 110,000 sq. ft. of retail space, 37,000-sq.-ft. entertainment and dining areas, a full-floor community facility, and 144,000 sq. ft. of office space.

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A unique LEED-Certified campus set in the active northern New Haven regional submarket of Wallingford is now available for sale. Cushman & Wakefield has been appointed to offer a 100 percent leasehold interest in the Campus at Green Hill, a 104-acre complex at 108 Leigus Road in Connecticut’s busy I-91 corridor.

Located next to a park-and-ride off exit 15 on I-91 and close to Route 15, offering easy access to both Hartford and Fairfield Counties — 75 miles from New York City and 90 miles from Boston — the property’s two-story building offers 288,795 rentable square feet that is 75 percent leased to three well-known tenants: health insurer Anthem Blue Cross and Blue Shield; engineering, architecture and construction firm Burns & McDonnell; and Liberty Mutual insurance company. The property offers the opportunity for additional development with application-ready land that can accommodate more than 440,000 square feet of additional office space.

The parcel fronting directly on I-91 can accommodate a building of approximately 118,000 square feet.

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EMH Commercial Realty has been retained as the exclusive agents to facilitate the sale of 4201 and 4209 Ave J in the Flatlands section of Brooklyn. EMH Commercial Realty associate broker Heshie Goldfein and senior sales associate Sadya Liberow will represent the seller in this transaction.

• 4201 Ave J is a recently renovated corner building with a finished basement. It has a certificate of occupancy for classrooms that can accommodate 50 children ages 6-12 on the first floor and 34 children ages 6-12 on the second floor, for a total of 84 children.

• 4209 Ave J is also renovated with a certificate of occupancy for classrooms that accommodate 31 children ages 2-9 on the first floor and 22 children ages 2 – 7 on the second floor for a total of 53 children.

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Town & Country Real Estate has been tapped to sell The Beach Bakery Grand Café, located in the center of Main Street in Westhampton Beach. Fully renovated in 2013, the 7,700 s/f building is a turn-key business on nearly 1/3 acre with all buildings and equipment part of the package. The property is the most significant wet use in the center of Main Street. An elevator connects the first and second floors for accessibility. There are staff apartments on the second floor. Town & Country Real Estate’s Hal Zwick and Patrick. M. Galway have listed the property at $5,750,000.

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Meridian Investment Sales announced the following exclusive assignments:

• 349 West 22nd Street, a four-story townhouse in Chelsea is bein marketed by David Schechtman, Lipa Lieberman, Abie Kassin, and Michael Feldman. Located between Eighth and Ninth Avenues, the four-story townhouse building is currently configured as three apartments. The property recently underwent an multi-million-dollar renovation to feature high-end finishes and amenities and is configured for a luxurious ground floor duplex, optimal for a user with the ability to generate rental income from the two apartments above. Delivered vacant, the property can also serve as an townhouse conversion.

• For the first time in 90 years, 59-161 Orchard Street, also known as 164-166 Allen Street, is being offered for sale. The two contiguous, block-through, mixed-use buildings in the Lower East Side are being marketed by David Schechtman and Jason Goldy. Located between Stanton and Rivington Streets, the five-story buildings collectively span 22,734 s/f and contain 22 apartments, seven retail spaces, and two second floor commercial spaces. The properties are owned by the same families without interruption and benefit from prime retail with 61 feet of frontage along both Orchard and Allen Streets, which is currently leased at nearly 45 percent below market value, while the buildings’ rent-stabilized apartments are leased at nearly 80 percent below market value.

• 1024 Second Avenue, a mixed-use property located in Midtown East, is being mareted by David Schechtman and Inbal Himelblau-Denman. The four-story property contains five residential units, one commercial unit, and spans 4,900 s/f. Located on the northeast corner of East 54th Street and Second Avenue, residents of the building enjoy direct access to Equinox, Soul Cycle, and food and entertainment options on the block. The offering consists of five free market apartments and one office space. The ground floor retail space is currently leased to Lenny’s food and beverage chain until December 2022.

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Cushman & Wakefield has been retained to arrange the sale of four properties in Queens. The properties range in price from $550,000 and $10.5 million. A team led by Stephen R. Preuss, with Denise Prevete, Kevin Louie, Andreas Efthymiou and Kevin Schmitz represent the sellers:

• 142-01 Rockaway Boulevard in Jamaica, is a 2,000 s/f traffic light corner commercial building consisting of one unit currently leased to New York State. The square-footage is spread over two floors, a first floor and cellar. The recently renovated property features a new roof, electric, plumbing and HVAC system. The property benefits from 20 feet of frontage on Rockaway Boulevard and average daily traffic of approximately 20,000 cars passing daily. The asking price is $550,000.

• 35-10/10A 156th Street in Flushing, is a fully renovated, 5,817 s/f community facility building utilized as a day-care center. The building sits on two tax lots consisting of a total lot square footage of 7,575. The lower level and first floor both consist of multiple classrooms fit for up to 54 children. The building has office space on the second and third floors, as well as additional storage space and a full backyard with a playground. The property will be delivered vacant with the option to assume the current daycare enrollment. The asking price is $3 million.

• 18-35 130th Street in College Point, a two-story, 11,210 s/f office/flex building. The property offers a heated, 12-car, motion-sensor garage and storage room, three fully-furnished executive offices with a full bathroom, kitchen, multiple conference rooms, central heating/AC and two additional half bathrooms. The building will be delivered vacant. The asking price is $4.2 million and is also available for lease.

• 45-17 Davis Street in Long Island City, a 7,500 s/f, mixed-used development site. Currently, there’s a 7,125 square-foot warehouse building in place. The property allows for up to approximately 37,500 buildable square-feet and will be delivered vacant. The asking price is $10.5 million. Additionally, 6,330 square feet of air rights are available for sale on the adjacent lot located at 45-16 Pearson Street.

 

SALES

HPNY has closed on the off market sale of 51 Hamilton Place in Harlem section of Manhattan for $9,500,000. The property is located on the NE corner of W 139th Street and Hamilton Place. The 6-story corner residential elevator building consists of 28 apartments. The total built square footage is 34,000 s/f which equates to $280 a built foot. The selling family was a long term owner who managed the property for over 40 years. The purchasing entity was a local Harlem investor, Doug Peterson’s City Skyline Realty DBA 51 Hamilton LLC. Josh Pomerantz of HPNY represented both the buyer and the seller.

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Meridian Investment Sales, sold a multifamily property in Brooklyn, NY for $3.3 million. Adam Sprung and Jason Goldy, represented the seller and procured the buyer, Jason Wisotsky of Four Corners Development Group, in this transaction. Located at 2317 Newkirk Avenue in Brooklyn’s Ditmas Park neighborhood, the four-story multifamily property is 15,600 s/f and contains 16 units. The building is located less than one block from Flatbush Avenue and easily accessible via several subway lines, including the 2 and 5 trains at the Newark Avenue / Nostrand Avenue station, which is located less than eight blocks away.

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