Preuss of Cushman & Wakefield completes four sales totaling $6.535 million

April 16, 2019 - New York City
Stephen Preuss,
Cushman & Wakefield

Queens, NY Cushman & Wakefield has arranged the sale of four properties totaling $6.535 million. A team led by senior managing director Stephen Preuss represented the sellers in all marketing efforts.

5105 34th St. in LIC is a fully renovated 2,360 s/f, three-story mixed-use building. The property was purchased by Latino 2000 USA, Inc. for $1 million, equating to $388 per s/f and a 5.15% capitalization rate.

• 31-79 Steinway St. in Astoria is a 2,250 s/f single-unit, single-story retail building with a full basement in Astoria.The property was sold by Steinway Sports & Recreation Center, Inc. and was purchased by ABS Partners Real Estate for $2 million, equating to $904 per s/f. Andreas Efthymiou, senior associate, Cushman & Wakefield assisted Preuss.

• 57-45 Myrtle Ave. in Ridgewood is a three-story commercial building. It was sold by Robert Gentile, trustee & Susan Gentile, trustee and was purchased by Isaac Azizian for $1.685 million, equating to $442 per s/f. Efthymiou worked with Preuss.

• 124-07 Liberty Ave. is a 2,360- s/f mixed-use building in South Richmond Hill. The property was sold by 124-07 Liberty Realty, LLC and was purchased by International Trading 1, Inc. for $1.85 million, equating to $784 per s/f and a 5.9% capitalization rate.

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