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Deals & Dealmakers Residential

A&G Completes Sale of 23-Unit Residential Tower in Downtown Flushing, N.Y.

A&G Real Estate Partners announced that the U.S. Bankruptcy Court has approved the sale of  Barclay Tower, a recently-constructed, 23-unit residential building in this densely populated section of Queens.

Sunlight Barclay Tower, LLC, a newly formed entity, was the winning bidder in A&G’s bankruptcy auction, acquiring the seven-story structure for $10.15 million. Designed and built to be marketed as a condominium, but never occupied, the seven-story building is located at 144-69 Barclay Ave., between Parsons Boulevard and 147th Street.

“With the building originally completed in 2017, the new owners plan to make a significant investment into the property to bring it up to 2022 standards and launch a marketing campaign to sell the individual units,” said Jamie Cote, Senior Managing Director, Real Estate Sales at the Melville, N.Y.-based A&G. 

“Following the successful completion of the auction, we look forward to seeing Sunlight Barclay Tower, LLC execute on its plan to get the well-appointed apartments in this attractive, strategically located building into the hands of motivated buyers,” added Jeff Hubbard, Senior Managing Director, Real Estate Sales at A&G. “This is a highly desirable area with limited availability of comparable condo apartments.”

Barclay Tower offers a mix of five one-bedroom units, 17 two-bedroom units and one three-bedroom unit, ranging from 670 square feet to 1,370 square feet. All two-bedroom units include two bathrooms, and all but two of the units have balconies. All of the units are completed.

The elevated building features a virtual doorman as well as a large rooftop outdoor space providing sweeping views of the surrounding area. The site also includes 17 parking spaces.

Barclay Tower is located steps from downtown Flushing and two blocks from the Long Island Railroad’s Murray Hill station, providing an approximate 20-minute commute into Manhattan.

The site is also within close proximity to such attractions as the Queens Botanical Garden, Queens Zoo and Citi Field, and offers easy access to several major highways. 

A&G sold the property under the direction of the U.S. Bankruptcy Court, Eastern District of New York (Case No. 20-43052).  

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