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Long Island City apartment building sells for nearly $2.5M

Photo courtesy of PropertyShark/Scott Bintner

BY KIRSTEN E. PAULSON

Long Island City has yet another multi-million dollar real estate deal.

The building located at 34-27 37th St. has sold for nearly $2.5 million, according to commercial real estate investment firm Marcus & Millichap.

Investment specialists Matthew Fotis, Zachary Golub and Lazarus Apostolidis were responsible for arranging the sale of the eight-unit apartment property on behalf of a private investor, as well as securing and representing the buyer, also a private investor.

“The building shows increased interest in the western Queens residential market. As the rental market increases, investors project more aggressive future rents,” Fotis said.

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