A&G Oversees Bankruptcy Auction for Queens Residential Tower

A&G Real Estate Partners is now accepting bids from developers or investors for Barclay Tower, a newly-constructed, 23-unit residential building in the densely Flushing neighborhood of Queens. Designed and built to be marketed as a condominium, but currently vacant, the site is being offered through a bankruptcy auction scheduled for Sept. 14, with bids due Sept. 10. 

Located at 144-69 Barclay Ave., between Parsons Boulevard and 147th Street, the seven-story building is nearby downtown Flushing. The site is also two blocks from the Long Island Rail Road’s Murray Hill station, providing an approximate 20-minute commute into Manhattan.

“This auction presents an excellent opportunity for buyers to capitalize on Queens’ booming residential market,” said Jeff Hubbard, senior managing director, real estate sales at Melville, NY-based A&G.  “With such a limited amount of new construction inventory available in the area, the process of acquiring Barclay Tower at auction, securing approval of the condominium plan and selling the units offers an investor or developer an expedited way to bring new product to market. Buyers also have the option of marketing the building as a rental property.”