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Brokerage
Posted: October 16, 2012
Entrepreneur Properties and Azad Property Group collaborate on $8.2 million Queens sale
Entrepreneur Properties and Azad Property Group collaborated the sale of a $8.2 million condominium building in the neighborhood of Forest Hills.
"The buyer's wanted to establish a presence in Queens and Forest Hills was the perfect place to start," said Ami Efrati of Entrepreneur Properties.
The sellers were able to get a premium for their building; 12.81XX GRM thanks to Barry Farchi of Azad who procured the buyer.
The building contains 35 condominium apartments and a cell tower on the roof. The new owners will benefit by taking over a turn-key operation and a 421-A tax abatement.
"Elevator buildings in Forest Hills rarely trade hands," said Efrati. "This was the only elevator building to sell in that neighborhood this year."
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