Marcus & Millichap announced the sale of a four-tenant retail building located at 96-41 Queens Blvd, Rego Park, NY, according to John Krueger, vice president and regional manager of Marcus & Millichap’s Manhattan office. The property sold for $13,000,000
The transaction was brokered by Michael Kook, of the firm’s Manhattan office. Kook secured both the seller and the buyer.
Regarding the sale, Kook said, “Core Queens retail properties with upside such as this one are rarely made available. The seller achieved a very strong price and the buyer will capitalize on the upside in the near future.”
The property is a four-suite, 9,000 SF property situated on .2 acres in the Rego Park neighborhood of Queens. Current tenants include Chic’s Place, Paris Baguette, Dunkin Donuts, Rouge Nail. There is also access to the M and R subway lines on the corner of the property.