A large property on the College Point waterfront just changed hands for some major cash.
The 69,918 square foot property at 14-34 110th St. was purchased for $16 million by Sam Chang of WV Marina Properties in a deal brokered by Cushman & Wakefield.
The sale includes a seven-story building containing 34 luxury residential units and two floors or commercial office space, 95 parking spaces and marina rights for up to 50 boats. The price per square foot was listed at $228.
Currently, the buyer plans to sell the remaining residential condos and potentially use the water bordering the property for a marina concept.
“At approximately 70,000 square feet and a final asking price of $16 million, this closing represents the largest and highest property sale for the College Point marketplace over the past several years,” said Stephen Preuss, executive director of Cushman & Wakefield. “The waterfront was substantially improved by this property, especially with the 25,0000 square feet commercial space helping to fulfill the need for functional and accessible offices in the area. We’re looking forward to seeing how the waterfront will continue to transform.”