New transaction in Rego Park An eleven story office building located in Rego Park has been recently sold for almost $140 million (about $391 per square foot). The buyer was one of its tenants, health insurer Fidelis Care, while the seller was the LeFrak Organization.
Workout Factory finds new digs in Long Island City, space significantly larger The Workout Factory, a gym that closed last month after losing its lease, is coming back to Long Island City bigger than ever with almost twice the space and significantly more classes. The Workout
Historic sellout in Queens One of the most expensive offering plans in the history of the borough has been submitted. Anthony Hu, owner of Easter Star Development, is targeting a sellout of $253.3 million. The property on sale is a bundle of 182 condominiums. These
Affordable housing in Jamaica Century Development Group, the company owned by George Xu, is planning to build on a vacant site in Jamaica. Furthermore, the project will consist of a residential building with 88 units distributed over eight stories. The site is at 148-31 90th
Deutsche Bank refinances loan A partnership comprised by three different companies has secured a refinancing of over $212 million. The companies in question are Property Markets Group, the Hakim Organization and New Valley. They own a 44 story rental tower based in Long Island City.
Brooklyn-based tennis club to open Long Island City facility The owners of a Brooklyn-based indoor tennis club are planning to open a Queens location in Long Island City. Court 16, a private club offering tennis lessons, tennis camps and court space for adults and children, will be
Changing hands A little over a year after buying them, Treetop Development has sold two rental buildings located in Flushing. The company completed the transaction receiving a little more than $57.5 million. These two buildings were acquired by Treetop as part of an eight building
Peter Papamichael of Vorea Group buys 12-01 44th Avenue in LIC from Lawrence Aaronson of Craig Envelope
Back in September Real Estate Weekly reported that Vorea was in contract to purchase 12-01 44th Avenue after their announcement of the ground lease of 23-20 Jackson Avenue. Now Queensbeans.com has learned that Peter Papamichael of the Vorea Group recently closed on the purchase of
http://ny.curbed.com/2017/4/3/15163184/astoria-cove-sale-queens-megaproject After all the back and forth surrounding the controversial Astoria Cove megaproject in Queens, the developer, Alma Realty is now looking to sell the site for $350 million, Crain’s has learned. The news follows shortly after a New York Daily News investigation revealed the
421a revival As of late, it has been said 421a it is going to be brought back. With this in mind, the owner of the Astoria Cove, is searching for a buyer for this property. Apparently, the transaction will set you back about $350 million.