On Thursday, Feb. 3, A&E Real Estate announced its purchase of 92-40 Queens Blvd., a six-story, mixed-use elevator building in Rego Park.
The 56,482-square-foot property has 60 rental units, seven ground-floor commercial units, five retail storefronts and 16 parking spaces. The price for each residence is $200,000 per unit.
“Our recent multifamily acquisitions in both Queens and Manhattan are a reflection of our strong belief in New York City and the attractive valuations we continue to see in the market,” A&E Co-Founder Douglas Eisenberg said.
A&E is continuing to expand its Queens portfolio — in September they purchased two properties in Jackson Heights.
The new Rego Park property A&E purchased was built in 1948, sitting between Eliot and 62nd avenues, with easy access to the E, G and R subway lines. The Rego Park Shopping Center, the Queens Center and Flushing Meadows Corona Park are also nearby.
A&E was founded in 2011 and has grown from a single 49-unit building in Fort Greene to more than 15,000 apartments across Brooklyn, the Bronx, Manhattan and Queens.