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Deals & Dealmakers

Demand drives Sunnyside up

GFI Realty Services announced the $15 million sale of a pre-war apartment building in the Sunnyside section of Queens.

The elevator building, located at 41-29 41st Street, is comprised of 49 residences that total 40,800 s/f


GFI Realty Associate Director of Investment Sales Josh Orlander represented the buyer, Queens-based Norcor Management, while GFI Realty Associate Director of Investment Sales Daniel Shragaei represented the seller, an Astoria-based firm that primarily manages residential properties in Queens. “This was a unique opportunity for the buyer and a very rare find, given the location of the building in Sunnyside,” said Orlander.

“The pre-war apartment building is in pristine condition and promises to be a valuable long-term investment for the buyer.”
The building, which sold for $306,000 per unit, is located near the 7 Train on the North Side of Sunnyside, between Skillman and 43rd avenues.

“With the strong market for quality multifamily product in Queens, the seller found it beneficial to accept the buyer’s aggressive offer and divest of this asset,” Shragaei shared.

As demand for residential properties in Sunnyside has increased, the area has become an enclave for Manhattan and Brooklyn expats searching for affordable alternatives. The neighborhood was recently named one of the Most Livable Neighborhoods in New York.

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