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Development Site Sells in Busy Woodhaven Corridor
Cushman & Wakefield arranged the sale of 68-19 Woodhaven Blvd., a 15,400-square-foot development property in the Woodhaven neighborhood of Queens. The final closing price was $5,350,000, or approximately $241-per-buildable-square-foot and $347-per-square-foot.
Cushman & Wakefield’s Stephen Preuss and Rani Bendary represented the seller, the McCloskey Family, in this transaction. The building was purchased by Giuseppe Zuccarella.
“Woodhaven Boulevard is one of the more heavily-trafficked areas in the borough,” said Preuss. “As retailers continue to move into the neighborhood, this property will benefit significantly from the continued increased exposure.”
68-19 Woodhaven features a retail property, a 9,900-square-foot industrial building with office mezzanine space and 8,700 square feet of open outdoor space. Current tenants are on below-market leases with three years remaining.
The property is within walking distance to the Forest Hills Long Island Rail Road station and the Forest Hills – 71 Avenue subway station.
For comments, questions or concerns, please contact Paul Bubny
- ◦Sale/Acquisition
