New York City—Henley City Living has purchased a $23 million asset, Hayes Court, in Queens. New York. The approximately 50,000 square-foot property comprises 56 residential units and six commercial suites. The office spaces are leased to a mix of dentists, doctors and other professional services providers.
The two five-story, mirrored buildings are located at 33-53 82nd St. and 33-54 83rd St. in Jackson Heights. The property encompasses a full block front and occupies more than a half acre of land. It offers 460 feet of wraparound frontage and a fully landscaped inner courtyard.
Henley City Living is a sub-brand of Henley USA, the US branch of the UK private equity real estate investor, Henley Investments. The building, originally constructed in the 1920s, allows for redevelopment potential which Henley City Living notes will be used to derive additional value from the property. The developer plans to reconfigure the majority of apartments, adding bedrooms to oversized units.
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Betsy Kim
Betsy Kim was the bureau chief, East Coast, and New York City reporter for Real Estate Forum and GlobeSt.com. As a lawyer and journalist, Betsy has worked as the director of editorial and content for LexisNexis Lawyers.com, a TV/multi-media journalist for NBC and CBS affiliated TV stations in the Midwest, and an associate producer at Court TV.
