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.”
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).