After one year of negotiations, New York Commercial Realty Group (NYCRG) and NAI Long Island closed the $4.1 million sale of 72-11 Amstel Blvd. This 32,000 s/f building on 67,000 s/f of land was currently owned by Newell Funding LLC who was represented by Frank and Michael Rao of NYCRG. The building is currently occupied by the City of New York Sanitation Department who will soon be vacating the building. The buyers in this deal were All Transit LLC who are located in Inwood and were represented by Brian Pinnola and Joseph Maffia of NAI. All Transit will be adding 250 employees to the Rockaway's which will help create more job opportunities in such a difficult economy.
Frank Rao said, "Brian Pinnola of NAI went above and beyond to meet his client's needs."
The past quarter of the year has been extremely active in the NYCRG office, but the first two quarters of 2009 was filled with window shoppers. Owner Michael Rao said, "We have some new and exciting deals to announce within the next few months." NYCRG has been in business for the past four years and has closed an excess of 800,000 s/f. Tags: