New York & Tri-State CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
B6 Markets Full-Block Queens Portfolio
B6 Real Estate Advisors has been retained to sell a portfolio of four buildings, located in Briarwood, Queens, on the market for $99 million. The 381,798-square-foot listing encompasses an entire city block and includes 383 units and 116 garage parking spaces.
The firm’s Thomas Donovan, Eugene Kim, Tommy Lin, Robert Rappa and Bradley Rutkin are handling the assignment. Historically, Briarwood and its surround neighborhoods, including Forest Hills, Rego Park and Kew Gardens are areas where large multifamily assets do not trade very often.
B6 says the offering provides multifamily investors/operators with a unique opportunity to acquire an ideally located, prime piece of residential real estate that has the potential to achieve attractive returns on investment, especially with the opportunity for future development.
The portfolio comes with approximately 28,000 square feet of additional development rights. The neighborhood offers proximity to mass transit, neighborhood amenities, major highways and airports.
For comments, questions or concerns, please contact Paul Bubny
- ◦Sale/Acquisition
