News:
Brokerage
Posted: November 2, 2021
Chang, Portelli and Goldflam of Highcap Group sell 27,000 s/f in Queens for $67 million
Queens, NY Charles Chang, associate broker alongside co-founders, Christen Portelli and Josh Goldflam of Highcap Group LLC, completed the sale of 39-12 to 39-18 Main St. aka 135-33 Roosevelt Ave. in Flushing.
The 27,000 s/f property is one and one-half stories, L-shaped with 64’ of frontage on Main St. and 75’ of frontage on Roosevelt Ave. Formerly owned and operated by Modell’s Sporting Goods since the 1980’s, the building was delivered partially vacant with one tenant, Bank of America.
Chang said, “Main St. rarely has any building trades due to the strong and consistent retail presence with high rents. This opportunity allowed for a new tenant to enter into the vibrant and sought after shopping district”.
The property sold for $67 million, equating to a record breaking $2,400 per s/f.
Tags:
Brokerage
MORE FROM Brokerage
Silverstein Properties bringing Heisman Trophy to 120 Broadway
Manhattan, NY The Heisman Trophy is coming to 120 Broadway. Silverstein Properties negotiated a new office lease with Heisman, keeper of the fabled trophy. The charitable organization
Quick Hits
Columns and Thought Leadership
Hunt CRE question and answer: Choosing a real estate agent - by David Hunt
First, we will only work with one agent exclusively. The primary reason is that we want that agent to legally represent our client’s interests. In New York State, a real estate agent has a fiduciary
New York’s streets are full again, and the retail numbers prove it - by Noam Aziz
Walk down any New York block this year and you can feel it. The sidewalks are crowded, the storefronts are lit, and the energy that defines this city is back at full volume.
The art of investing in real estate - by Thomas Donovan
Real estate investing is as much an art as it is a skill. No one can time the market, or the factors that drive it, perfectly. Location, zoning, size, transportation, and neighborhood density give you a baseline for
Hunt commercial real estate question and answer: Fortune 500 wisdom - by David Hunt
Yes, there are lessons to be learned from the largest companies in America when comes to managing your real estate. But the decision to buy or lease real estate may not be one of
.gif)