Cushman & Wakefield brokers four sales totaling $81.72 million

August 21, 2018 - New York City
Stephen Palmese,
Cushman & Wakefield


Winfield Clifford,
Cushman & Wakefield


Stephen Preuss,
Cushman & Wakefield


Thomas Donovan,
Cushman & Wakefield


New York, NY Cushman & Wakefield has closed the following four deals totaling $81.72 million:

• The $61 million sale of 313-331 Bond St., a 185,040 buildable s/f development site located in the Gowanus, Brooklyn. Cushman & Wakefield’s vice chairman Stephen Palmese, executive director Winfield Clifford, director James Berluti and associate director William Barrett led the marketing efforts on behalf of the seller. All Year Management purchased the property. The development site spans 95,520 s/f and is comprised of seven tax lots. The property features 360 ft. of frontage along the Gowanus Canal, in addition to over 410 ft. of frontage along Carroll and Bond Sts. 313-331 Bond St. is located in an M2-1 zone benefiting from a 2.00 FAR, yielding 185,040 buildable s/f as-of-right.

Development site at 3823-3829 9th Street,
Long Island City - Queens, NY

• The $9.7 million sale of 215-01/11 42nd Ave., a 44,981-buildable s/f lot with an existing 8,000 s/f building in Bayside, Queens. Cushman & Wakefield’s senior managing director Stephen Preuss, director Denise Prevete-Tempone, and associate director Kevin Louie led the marketing efforts on behalf of the seller, Queensborough Lumber Company, Inc. The property was purchased by Steven Novenstein of Storage Deluxe. The 44,981 s/f property is currently occupied on a net-leased basis by a single tenant. The tenant is currently in a lease extension which expires October 31, 2019. 

• The $8 million sale of 3823-3829 9th St., a 49,790 buildable s/f development opportunity in LIC. Cushman & Wakefield’s Preuss, Prevete-Tempone and senior associate Andreas Efthymiou represented the buyer and seller. The seller was J&N Development LLC and the property was purchased by Midpiece 9th Street, LLC. 3823-3829 9th St. is an assemblage of two tax lots for redevelopment of up to 49,790 buildable s/f for as-of-right development. 

• The $3.02 million sale of 28-08 23rd Ave., an eight-unit walk-up apartment building located in Astoria, Queens. Cushman & Wakefield’s vice chairman Thomas Donovan, and directors Tommy Lin, Eugene Kim, and Robert Rappa led the marketing efforts on behalf of the seller. The property consists of eight two-bedroom apartments of which four are rent-stabilized, one is rent-controlled and three are free-market.


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