Queens, NY Marcus & Millichap has completed the sale of a four-tenant retail building located at 96-41 Queens Blvd., Rego Park, according to John Krueger, vice president and regional manager of firm’s Manhattan office. The property sold for $13 million.
The transaction was brokered by Michael Kook of Marcus & Millichap’s Manhattan office. Kook secured the seller and buyer. Regarding the sale, Kook said, “Core Queens retail properties with upside such as this one are rarely made available. The seller achieved a very strong price and the buyer will capitalize on the upside in the near future.”
The property is a four-suite, 9,000 s/f property situated on 0.2 acres in the Rego Park neighborhood. Current tenants include Chic’s Place, Paris Baguette, Dunkin Donuts, Rouge Nail. There is also access to the M and R subway lines on the corner of the property.