11-17 Northern Boulevard.
NEW YORK CITY- Cushman & Wakefield has closed the sale of 111-17 Northern Boulevard, a 32,184-square-foot multifamily property in Corona, Queens. The final closing price was $4.7 million, or approximately $149 per square foot.
Cushman's Stephen Preuss and Kevin Louie represented the seller, Sing & Mehta in the transaction. Amit Doshi of Meridian Capital Group represented the buyer Carmelle Bellefleur.
"This well-maintained property will prove to be a sound, long-term investment," Preuss said in a prepared statement. "As developers continue to seek out opportunities along the 7 train in Queens, new ownership will benefit from the increased interest in the neighborhood."
The 38-unit walk-up property at 111-17 Northern Boulevard is a four-story brick corner apartment building.features 29 one-bedroom and 9 two-bedroom units, averaging approximately 600 and 900 square feet, respectively. The building is well-maintained with a new dual-fuel boiler and digital intercom and security system. There is currently a pending MCI of $10 per room.
The property is conveniently located off Grand Central Parkway and Van Wyck Expressway and is within walking distance to the 7 train and different bus lines on Northern Boulevard.
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Mariah Brown
Mariah Brown is the New York Bureau Chief and Real Estate Reporter for GlobeSt.com, covering the New York Metro area, Northeast region and national real estate trends. She is responsible for producing multi-media content, including articles, podcasts and video. Before joining the GlobeSt team, she served as a New York Times fellow, reported for the Associated Press in New York and Philadelphia and several other New York City-based outlets.
