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Bayside Parcel Trades to Storage Deluxe

A 44,981-buildable-square-foot lot with an existing 8,000-square-foot building at 215-01/11 42nd Ave. in Bayside, Queens has traded to Storage Deluxe. The final closing price was $9.7 million, equating to approximately $216 per buildable square foot.

Cushman & Wakefield’s Stephen Preuss, Denise Prevete and Kevin Louie led the marketing efforts on behalf of the seller, Queensborough Lumber Company.

“The buyer acquired a property with great potential and ideal zoning for their intended future use of a storage facility” said Preuss. “215-01/11 42nd is a textbook covered-land play, which carries short term income with a tenant in-place with the ultimate goal of redeveloping the property once vacant in a few years.”

The 44,981-square-foot property is currently occupied on a net-leased basis by a single tenant. Thanks to a significant amount of development rights, it can accommodate up to 107,953 buildable square feet for commercial development.

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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 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).