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A&E Expands Rego Park Multifamily Holdings
A&E Real Estate acquired 92-40 Queens Blvd., a six-story mixed-use elevator building in Rego Park, for $15 million. The 56,482-square-foot property encompasses 60 rental apartments, seven ground-floor commercial units and 16 parking spaces.
The acquisition, A&E’s fourth in five months, further adds to A&E’s Queens portfolio and its particularly strong presence along the Queens Boulevard corridor of Rego Park.
Last September, A&E purchased Georgian Hall and Ravenna Court,in Jackson Heights. In October, the firm acquired 400 E. 57th St., a 263-unit apartment building in Manhattan.
A&E made the acquisition through its most recent real estate fund, AEREP III. A&E is currently accepting additional capital commitments for the fund, its third and largest to date.
“Our recent multifamily acquisitions in both Queens and Manhattan are a reflection of our strong belief in New York City and the attractive valuations we continue to see in the market,” said A&E co-founder Douglas Eisenberg.
- ◦Sale/Acquisition
