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Deals & Dealmakers

New Flushing condo set to be auctioned

A&G Real Estate Partners is now accepting bids from developers or investors for Barclay Tower, a newly-constructed, 23-unit residential building in this densely populated section of Queens.

Designed and built to be marketed as a condominium, but currently vacant, the site is being offered through a bankruptcy auction scheduled for September 14, with bids due on September 10.

Located at 144-69 Barclay Ave., between Parsons Boulevard and 147th Street, the seven-story building is steps from downtown Flushing. The site is also two blocks from the Long Island Railroad’s Murray Hill station, providing an approximate 20-minute commute into Manhattan.

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 (building-wide average of 881 square feet). All two-bedroom units include two bathrooms, and all but two of the units have balconies averaging 50 square feet. 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.

“This auction presents an excellent opportunity for buyers to capitalize on Queens’ booming residential market,” said Jeff Hubbard, Senior Managing Director, Real Estate Sales at the Melville, N.Y.-based A&G.  “With such a limited amount of new construction inventory available in the area, the process of acquiring Barclay Tower at auction, securing approval of the condominium plan and selling the units offers an investor or developer an expedited way to bring new product to market. Buyers also have the option of marketing the building as a rental property.”

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