Queens Blvd Building in Contract to be Sold for $7.75 million

Photo: QueensPost

Jan. 6, 2015 By Christian Murray

A large piece of Queens Blvd property is likely to be changing hands for a whopping $7.8 million, according to the real estate data provider Property Shark.

The 43-24 Queens Blvd property—which incorporates stores such as Dave’s Bagels to Amazon Pharmacy—is 9,500 square feet and represents about half the block on the south side of the boulevard between 43^rd and 44^th Streets.

The property also goes deep into 44^th Street incorporating stores on that block.

The owner of the building Geoffrey Henderson is currently in contract to sell it for $7,750,000. The likely buyer has not been listed.

This transaction would most likely close before the Center Cinemas and King Boulevard properties (both sold for redevelopment purposes) face the wrecking ball.

With zoning, a developer could construct a building with 38,000 square feet of floor space. Currently, the building is one story, utilizing 8,500 square feet of floor space.

The property generated about $370,000 in rental income in 2013, according to Property Shark.