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| Steven Siegel |
NEW YORK, NY – Marcus & Millichap (NYSE: MMI), a leading
commercial real estate investment services firm with offices throughout the
United States and Canada, today announced the sale of a 23,000-square-foot lot
for development in the Flushing neighborhood of Queens in New York City for $10,200,000.
Steven
Siegel, Michael Kook and Michael Helpern, all in Marcus & Millichap’s
Manhattan office, represented the seller, a family partnership, and the buyer,
a local/regional development group.
“Downtown
Flushing is one of New York City’s most heavily trafficked areas,” says Kook.
“The development site is part of a block that recently had its zoning changed
to C2-6A, which allows for a variety commercial and residential uses.
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| Michael Halpern |
" The new
zoning is accompanied by an FAR of 4, which allows for a 92,000-square-foot
development.”
“The area
is attracting a lot attention from developers,” adds Siegel. “The entire block
is prime for redevelopment and this site is part of a limited new area in which
to build.”
Located
on Fowler Avenue in New York City, the site is five blocks from the
intersection of Main Street and Roosevelt Avenue, an area that features a
significant amount of retail activity and access to the No. 7 subway line and
the Long Island Railroad commuter rail system.
Siegel,
Kook, and Helpern sold a similar 86,000-buildable-square-foot site on the other
side of this block on Avery Avenue in October 2013 for $11,250,000.
For a complete copy of the company’s news release, please
contact:
Gina Relva
Public Relations Manager
(925) 953-1716
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