New York & Tri-State + Outer + Distressed Assets | February 6, 2022

The sale of Barclay Tower, a Queens condominium project completed in 2017 but never occupied, has been approved by a bankruptcy court

Bankruptcy Court Okays A&G Sale of Flushing Resi Tower

A&G Real Estate Partners said the U.S. Bankruptcy Court for the Eastern District of New York has approved the sale of Barclay Tower, a recently constructed, 23-unit residential building in Queens’ Flushing neighborhood.

Sunlight Barclay Tower, LLC, a newly formed entity, was the winning bidder in A&G’s bankruptcy auction, acquiring the seven-story structure for $10.15 million. Designed and built to be marketed as a condominium, but never occupied, the seven-story building is located at 144-69 Barclay Ave., between Parsons Boulevard and 147th Street.

“With the building originally completed in 2017, the new owners plan to make a significant investment into the property to bring it up to 2022 standards and launch a marketing campaign to sell the individual units,” said Jamie Cote, senior managing director, real estate sales at Melville, NY-based A&G.

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A&G's Cote

About Paul Bubny

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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