Queens, NY Schuckman Realty has facilitated the sale of a 3,640 s/f mixed-use building, consisting of two residential apartments above 1,800 s/f of commercial space on the lower level. The Schuckman Realty investment sales team was led by Joseph Rosenfeld on the transaction. The property, located at 92-03 Jamaica Ave., is just off the Woodhaven Blvd. subway station, serviced by the J and Z trains.
“This was a tenant requirement for an end user, which came in through our leasing team” said Rosenfeld. “We successfully identified properties that would qualify the buyer to take advantage of the competitive SBA small business loans which are available, resulting in the successful relocation of his business and outright purchase of his new location.”
Schuckman is actively working with long-term small businesses and franchisees who have persevered through the COVID-19 Pandemic, and who have been looking to purchase their locations rather than lease giving them more runway to navigate this dynamic market by working directly with their lender rather than through a landlord.
The property went into contract in August and closed on December 8th, 2020 for $1.69 million or ($464/SF). The seller was Urbanistica LLC, and the buyer was AJ Building Group, LLC.
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