New York & Tri-State + Outer + Office | May 4, 2021

CushWake Team Closes Sale of Queens Offices

Cushman & Wakefield arranged the sale of Cross Island Plaza, a 235,431-square-foot office building located at 133-33 Brookville Blvd. in Queens’ Rosedale neighborhood. Deal terms weren’t disclosed.

A Cushman & Wakefield team of Andrew Merin, David Bernhaut, Gary Gabriel, Kyle Schmidt and Ryan Larkin, with assistance from local leasing specialist Frank Liggio, represented the seller, Ivy Realty. An affiliate of Ramapo, NY-based Northeast Capital Group acquired the asset.

“Cross Island Plaza offered an opportunity to acquire an exceptionally well-located office building minutes from John F. Kennedy Airport with a diversified rent roll and the opportunity for future value enhancement,” said Bernhaut. “This asset has access to an extremely diverse, affluent and well-educated labor pool, which continues to attract employers to this supply-constrained office market.”

Cross Island Plaza is a three-story office building on approximately five acres. The asset is easily accessible from NYC’s five boroughs.

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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 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).