The U.S. Bankruptcy Court has approved the sale of Barclay Tower, a recently constructed 23-unit residential building in Flushing, according to A&G Real Estate Partners.
Sunlight Barclay Tower LLC, a newly formed entity, was the winning bidder in A&G’s bankruptcy auction, acquiring the seven-story structure for $10.15 million.
The seven-story unoccupied building, which was designed and built to be marked as a condominium, is located at 144-69 Barclay Ave., between Parsons Boulevard and 147th Street.
“With the building originally completed in 2017, the new owners plan to make a significant investment into the property to bring it up to 2022 standards and launch a marketing campaign to sell the individual units,” said Jamie Cote, senior managing director of Real Estate Sales at the Melville, New York-based A&G.
Following the successful completion of the auction, A&G is looking forward to seeing Sunlight Barclay Tower LLC execute its plan to get the well-appointed apartments in this attractive, strategically located building into the hands of motivated buyers, said Jeff Hubbard, senior managing director of Real Estate Sales at A&G.
“This is a highly desirable area with limited availability of comparable condo apartments,” Hubbard said.
Barclay Tower offers a mix of five one-bedroom units, 17 two-bedroom units and one three-bedroom unit, ranging from 670 square feet to 1,370 square feet. All two-bedroom units include two bathrooms, and all but two of the units have balconies. All of the units are completed.
The elevated building features a virtual doorman as well as a large rooftop outdoor space providing sweeping views of the surrounding area. The site also includes 17 parking spaces.
Barclay Tower is located steps from downtown Flushing and two blocks from the Long Island Railroad’s Murray Hill station, providing an approximately 20-minute commute into Manhattan.
The site is also within close proximity to such attractions as the Queens Botanical Garden, Queens Zoo and Citi Field, and offers easy access to several major highways.
A&G sold the property under the direction of the U.S. Bankruptcy Court, Eastern District of New York.
