By Madina Toure
A commercial building in Whitestone has been sold, real estate services firm Cushman & Wakefield announced last week.
VSK LLC, a medical business owner that formerly operated on the site, sold the Whitestone building, located at 150-42 12th Ave., in an all-cash transaction valued at $1,475,000 to Masterpiece Companies, a construction company.
The property has a roughly 4,500-square-foot commercial building with a parking lot in the rear, which holds up to 14 vehicles.
“This owner-user property allows the buyer to use the existing space and as his business grows, eventually add-on square footage with the additional available development rights afforded by zoning in this area,” said Stephen R. Preuss, director of sales for Cushman & Wakefield’s Queens office.
The property, which is close to major thoroughfares including the Whitestone Expressway and the Cross Island Parkway, was delivered vacant and can be renovated or developed for various purposes, according to the firm.
The property can hold up to about 10,000 buildable square feet. The sale price is around $328 per square foot or $148 per buildable square foot.
Reach reporter Madina Toure by e-mail at mtour
