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.
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. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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