A 39-unit cooperative unit package within Lane Towers in Forest Hills was recently sold in a $7,095,000 all-cash transaction by real estate firm Cushman & Wakefield.
Lane Towers is an 18-story apartment building located at 107-40 Queens Blvd., at the corner of 70th Road. Of the 39 units, 19 are free market while 20 are rent stabilized apartments. There are 23 studio layouts, 13 one-bedrooms, and three two-bedroom units.
The co-op is located in the heart of one of Queens’ most desirable neighborhoods, just steps away from Austin Street, the main retail and restaurant row, with tenants like Ann Taylor, GAP, Chipotle, New York Sports Club, and Martha’s Country Bakery.
The neighborhood boasts easy access to the Long Island Rail Road, as well as the E, F, M, and R subway lines at the 71st-Continental Avenues station, allowing for a convenient commute into Manhattan.
“Due to the strong Forest Hills residential market and our diligent marketing process we were able to find the perfect buyer for this type of asset and maximize sale price,” said Cushman & Wakefield’s Tom Donovan, who handled the transaction.