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Trio of sites in Briarwood and Oakland Gardens trade hands for $23.7 million – QNS.com

Trio of sites in Briarwood and Oakland Gardens trade hands for $23.7 million

Photos courtesy of Cushman & Wakefield

The owner of three commercial sites scattered in Oakland Gardens and Briarwood sold the properties for more than $23.7 million, according to real estate firm Cushman & Wakefield, which handled the transaction.

The deal involves the cluster of properties at 221-02 through 221-50 Horace Harding Expressway, 137-67 to 137-79 Queens Blvd., 138-09 84th Dr., and 138-07 to 138-11 Queens Blvd., which the real estate firm refers to collectively as “The Vanguard Retail Portfolio.”

Together there are 28 units throughout the entire sale with a combined 44,858 square feet of space.

Of the properties, the largest cluster on Horace Harding Expressway in Oakland Gardens has about 33,698 square feet and 18 retail units with some space for parking.

It has up to 53,159 square feet of buildable space, according to the real estate firm. This one cluster was sold for nearly $17 million.

The properties were purchased by a local investor above the asking price, which was $23.1 million in September, according to Cushman & Wakefield.

“We received an abundant amount of interest contributed to by the continued lack of quality assets for sale along with the desirability for larger retail product,” said Stephen Preuss of Cushman, who handled the deal with Brian Sarath and Thomas Donovan.

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