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Global One Makes Astoria Acquisition
Global One Real Estate Fund II, through its management arm Nelson Management Group, has made its second acquisition of 2020, a six-story residential building at 25-98 36th St.in Astoria for $15,600,000. The seller wasn’t disclosed.
Built in 1931, the 50,910-square-foot elevator building features 59 apartments, including market-rate and rent-regulated units. Nelson Management Group plans to upgrade the building’s amenities.
“2020 has certainly presented unforeseen challenges, however, we have continued to focus on what we do best, which is add value to our tenant base and the community,” said Mark Finn, head of acquisitions at Global One Investments. “25-98 36th Street makes an excellent addition to our portfolio of high-standard apartments, and as always, we will strive to provide our tenants with high-quality amenities and great value.”
Earlier this year, Global One Real Estate Fund II acquired The John Adams, a six-story multi-use residential building in Forest Hills.
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- ◦Sale/Acquisition
