Smooth sale goes down in Queens
A couple named Ted and Ana Bednarek sold property in Queens. Stephen Preuss and Kevin Louie, from Cushman & Wakefield, brokered the deal, which totalled $1.2 million. The property in question is a three-story multifamily property. This is based at 12-15 119th Street in the College Point section. Overall, the property spans more than 4,780 square feet. It has eight units, all of which are rent-stabilized. There are six one bedroom apartments and two studios in the property. The building was purchased by Queens Residential Properties, Inc. in an all-cash transaction.
The team from Cushman & Wakefield said the property had several bidders. However, the transaction proceeded seamlessly and very quickly, without any bumps in the road. Furthermore, the brokers emphasized how much the market in Queens is growing. Developers and investors should be keeping an eye on the area, without a doubt. Many good opportunities like this can come up. Furthermore, the building is recently renovated. In the last few years, the former owners updated the windows, the brick pointing, installed a new roof and brand new oil tanks. [NYrej]