Friday, October 31, 2014

HFF closes sale of Long Island City, NY development site

Andrew Scandalios
NEW YORK, NY – HFF announced it has closed the sale of a commercial development site located at 11-55 49th Avenue in Long Island City, New York. 

               HFF marketed the property on behalf of the seller and procured the buyer, Criterion Group LLC.

               The development site is located at 11-55 49th Avenue adjacent to the 7 Train in the Hunter’s Point neighborhood of Long Island City. 

This places the property a short distance from the Queens Midtown Tunnel providing access to Manhattan across the East River.  The site is currently a 26,415-square-foot vacant parking lot and it is zoned for 132,074 square feet of residential or commercial development.

               The HFF investment sales team representing the seller was led by senior managing director Andrew Scandalios, managing director Jeff Julien, director Rob Hinckley and associate director David Fowler.

               Criterion Group LLC and its affiliates, based in New York, invest in diversified property offerings including residential development and acquisitions, industrial and distribution, retail, office and value added repositionings.

For a complete copy of the company’s news release, please contact:

Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 |

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