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Deals & Dealmakers

Marcus & Millichap Arranges The Sale Of A 34,751 Square Foot Development Site

– Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Hallett’s Point, a 15,796 square foot development site located in Queens, NY, according to John Horowitz, regional manager of the firm’s Brooklyn office. The asset sold for $7,725,000.

Shaun Riney and Sean Fopeano, investment specialists in Marcus & Millichap’s Brooklyn office, had the exclusive listing to market the property on behalf of the seller, an individual/personal trust.  The buyer, a private investor, was secured and represented by Shaun Riney and Sean Fopeano.

Fopeano comments, “The buyer moved quickly throughout the transaction in hopes of securing the existing 421a tax abatement that expires in June.”

Hallett’s Point Development Site is located at 26-18 3rd St in Queens, NY.  The site sits on a lot of 0.36 acres.

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