According to the Real Deal, Century Development Group is moving along and building The Farrington. As YIMBY reported back in September, the property is slated to be a mix-use of residential and retail along with a hotel in Flushing. Developer George Xu of Century development
http://www.crainsnewyork.com/article/20161219/REAL_ESTATE/161219877/flushing-sets-pace-for-development-prices-in-queens Neighborhood site trades for $341 per square foot—higher than commercial parcels in borough’s other hot spots The deal for the former branch of Flushing Bank at 159-18 Northern Blvd. sets the record for the neighborhood.
Out With The Old and In With The New, Historic RKO Theater in Flushing Is Being Replaced With Condos
RKO theater located on 135-35 Northern Boulevard in Flushing Queens, has been purchased for $66 Million. The buyers, Xinyuan Real Estate, a Chinese based real estate developer plan to transform the theater into a 269-unit residential building with 2 floors of retail. This is not
Jai Yan Shi buys 56-20 196 St, an Industrial Property consisting of 2,534 of Square Feet, from Liliana Nieto for $1,480,000($584 per square foot). The Property is in Flushing, NY and traded on June 13, 2016. Built in 1950 this 2,534 sq.ft. building is 100%
Teresa Skellenger buys 4004 A Bell Blvd, a Retail Property consisting of 2,592 of Square Feet, from Frank Festa for $1,375,000 ($530 per square foot). The Property is in Flushing, NY and traded on June 3, 2016.
Mu Yong Ku buys 15817-15823 Northern Blvd from David Sooil Koh for $6,350,000 ($1,128 per square foot). The Property is located in Flushing, NY and traded on May 20, 2016.
Margaret McCormick buys 13906-13918 34 Rd from James H. Simmons, III for $20,657,311 ($350 per square foot). The Property is located in Flushing, NY and traded on May 17, 2016.
Margaret McCormick buys 139-09 34 Rd from James H. Simmons, III for $11,027,284 ($265 per square foot). The Property is located in Flushing, NY and traded on May 17, 2016. Built in 1931 this 41,600 sq.ft. building is 100% Residential and contains 54 residential units.
Charlene Sheng buys 142-38 Roosevelt Ave from Young Shin Corp for 8,800,000.00 or $1,189 Per Square Foot. The property is located in FLUSHING, Queens. The Lender on the deal was TITAN CAPITAL. Built in 1983 this 7,400 sq.ft. building is 56% Office Space, and 44% Retail. The Property Traded
According to a recent market report by Justin Liniado – Associate Director of Multifamily at CPEX, investment sales in the Queens multi-family market saw a year of strong, steady growth in 2015. Rising market rents and a steady increase in condo and commercial transactions has