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Flushing’s Korea Village Goes on the Auction Block

NEW YORK CITY-Marcus & Millichap’s Adelaide Polsinelli tells GlobeSt.com that the shopping center at 150-24 Northern Boulevard is valued in the mid-$30 million range. The auction date is Sept. 16 in Jamaica, NY.

By Jacqueline Hlavenka | Updated on September 12, 2011

NEW YORK CITY-Marcus & Millichap Real Estate Investment Services and ERG Property Advisors have been retained to market Korea Village, a 76,000-square-foot shopping center at 150-24 Northern Boulevard in Flushing for a foreclosure auction. A $14 million first mortgage on the property from Intervest National Bank will be up for grabs at a foreclosure sale on Friday, September 16 at the Queens County Supreme Court House at 88-11 Suphin Boulevard, Jamaica, NY, room 25.

Adelaide Polsinelli, associate vice president at Marcus & Millichap Real Estate Investment Services, tells GlobeSt.com that the newly-constructed three-story mixed-use property is valued around mid-$30 million mark. “The space is amazing,” she says, noting that the building was constructed in 2006. “You have a caterer on the top floor that does very good business. It is a very vibrant retail center. You are in the heart of the Korean market.”

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