ABS Partners Real Estate, LLC has completed the sale of a 15,000 s/f office building at 175-20 Hillside Ave., Jamaica for $3.25 million. ABS managing directors Steven Solomon and Jason Kling handled the assignment on behalf of both the buyer and the seller.
Built in 1973 and located between 175th and 176th Sts., the professional office space comprises three-stories and a lobby. In addition to an elevator lobby and two stairways, the stilted building provides 25 parking spaces. The property is set on an 8,000 s/f lot.
"The building has tremendous upside for the buyer," Solomon said. "The generous parking lot and the proximity to both bus transportation, Q3, Q2, Q1, Q4, Q76, Q77 and the F train makes this building very attractive to tenants."
The main tenant, Allen Health Care, vacated the building in November and the new ownership has plans to renovate the building and offices, according to Kling.
About ABS Partners Real Estate
ABS Partners Real Estate, LLC is a premier New York-based real estate services firm. Founded by industry leaders with more than a century of collective experience, ABS has assembled a dynamic team of professionals with expertise in all facets of real estate services, including owner-advisory services, leasing, sales and property management. ABS also specializes in land use and ground lease consultation, the transfer of development rights, fractional ownership valuation, FAR valuation, and services specifically related to the issues faced by families holding real estate for multiple generations.
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