Schuckman Realty is pleased to announce the sale of a single-tenant net leased Citibank located at 121-11 Liberty Avenue, South Richmond Hill, Queens, NY 11419.
The building which is located on the Northeast corner of Liberty Avenue and 121st Street features and additional 6,860 SF of unused air rights for future development.
The sale closed on September 13th and sold for $3,900,000. Matthew Colantonio and Edward Gottlieb, CRX, CLS of Schuckman Realty represented both sides in this off-market transaction.
“This Citibank location reports a deposit count close to $500M, the buyer was looking for a quality credit-tenanted NYC corner property with solid foot-traffic and additional air rights to take advantage of future development upside, while seeing near-term stability from Citibank”, noted Matt Colantonio of Schuckman Realty.
About Schuckman Realty Inc.: Schuckman Realty is a full service commercial real estate services firm serving New York City, Long Island, New Jersey, and the surrounding tri-state area. The Investment Sales team at Schuckman Realty Inc. brings vast and nuanced market knowledge, insight, and ingenuity to your portfolio from inception to completion. Schuckman Realty offers expertise in determining a property’s best use in terms of value gains to investors, extensive research and vetting process, access to qualified buyers and a proven sales & marketing team with a creative approach to maximize value.
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