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New York & Tri-State   /   May 4, 2021

Paul Bubny
By: Paul Bubny

CushWake Team Closes Sale of Queens Offices

Cushman & Wakefield arranged the sale of Cross Island Plaza, a 235,431-square-foot office building located at 133-33 Brookville Blvd. in Queens’ Rosedale neighborhood. Deal terms weren’t disclosed.

A Cushman & Wakefield team of Andrew Merin, David Bernhaut, Gary Gabriel, Kyle Schmidt and Ryan Larkin, with assistance from local leasing specialist Frank Liggio, represented the seller, Ivy Realty. An affiliate of Ramapo, NY-based Northeast Capital Group acquired the asset.

“Cross Island Plaza offered an opportunity to acquire an exceptionally well-located office building minutes from John F. Kennedy Airport with a diversified rent roll and the opportunity for future value enhancement,” said Bernhaut. “This asset has access to an extremely diverse, affluent and well-educated labor pool, which continues to attract employers to this supply-constrained office market.”

Cross Island Plaza is a three-story office building on approximately five acres. The asset is easily accessible from NYC’s five boroughs.

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Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism.
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