Cushman & Wakefield announced on Wednesday that the brokerage firm has successfully sold four properties throughout Queens in March.
Each property had a final closing price ranging from $1 million to $2 million. All marketing efforts for the sellers was handled by a team led by Stephen R. Preuss, senior managing director of Cushman & Wakefield.
“The sale of these properties is a testament to the strong state of the Queens residential and commercial market,” said Preuss. “The accessibility of these buildings to public transportation contributes to the overall popularity of these neighborhoods.”
The first property, located at 5105 34th St. in Long Island City, is 2,360-square-foot, three-story, mixed-use building that has been fully renovated. The ground floor has one commercial unit, with a commercial tenant operating as a contractor. There are two residential units on the second and third floors, both of which are three-bedroom apartments with 10-foot ceilings.
The property has three onsite parking spots and is located just south of the Long Island Expressway and in proximity to the Brooklyn-Queens Expressway. The property was sold to Latino 2000 USA Inc. for $1 million.
The second property is a 2,250-square-foot single unit, single-story retail building with a full basement located at 31-79 Steinway St. in Astoria. The building has 25 feet of frontage on Steinway Street and offers up to an additional 4,500 square feet of air rights for commercial or residential development.
Located on one of Astoria’s largest retail corridor, the property is nearby restaurants and retailers such as Gap, GNC, Bath & Body Works, Express, Victoria’s Secret and many more. The building is easily accessible via the M and R subway lines at Steinway/34th Avenue and Broadway/46th Street. The property was sold by Steinway Sports & Recreation Center Inc. and was purchased by ABS Partners Real Estate LLC for $2 million.
The third property is a three-story commercial building located at 57-45 Myrtle Ave. in Ridgewood. While it is currently owner-occupied and operating as a pet store, the building will be delivered vacant. The first floor is built out as a storefront while the second and third floors were previously used for retail and storage.
Just blocks from the Myrtle-Wyckoff station, this property is located in a heavily trafficked area with thousands of people and cars passing by daily. The building was sold by Robert F. Gentile, Trustee & Susan J. Gentile, Trustee to Isaac Azizian for $1.685 million.
The final property sits comfortably in the heart of South Richmond Hill at 124-07 Liberty Ave. The 2,360-square-foot, mixed-use building is fully leased with a three-bedroom apartment located over a retail store and has been renovated with separately metered utilities, high arched windows in the apartment, and a new roof offering low maintenance.
Located five blocks away from the A train at Lefferts Boulevard Station, the building gets an enormous amount of foot and car traffic. The property was sold by 124-07 Liberty Realty LLC and was purchased by International Trading 1 Inc. for $1.85 million.