Jason Maier, Massey Knakal broker and exclusive agent on the sale, tells Globest.com that the sellers are the children of the original owner of G & Sons department store—the Bausk Family Trust. The eldest daughter, Gittel Bausk is the primary trustee for the property.
[IMGCAP(2)]Maier explains that after G & Sons went out of business National Wholesale Liquidators took over the site and "had a pretty good 10-year run with a NNN lease on the building." But due to a change in legislation under the Americans with Disabilities Act, Maier says, NWL was forced to bring all of it current stores up to code and was forced to shutter a few locations "and 4802-4822 New Utrecht Ave. was one of them."
He continues that the property "has now been vacant since 2006 and was locked up by a failed investor who tied the property up and failed to close. Now Massey Knakal has the listing and will be focused on exposing the property to all the national retailers, investors, developers and beyond."
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