New York & Tri-State + Outer + Net Lease | July 1, 2021

Ground-Leased Harley Dealership Trades for $6M

The Boulder Group completed the sale of a triple-net ground-leased Harley-Davidson dealership at 1973 Forest Ave. on Staten Island for $5,550,000.

Randy Blankstein and Jimmy Goodman of The Boulder Group represented both parties in the transaction. The buyer was a New York-based developer and the seller was a New York-based real estate investor.

The 8,299-square-foot property is strategically positioned on the northwest corner of Forest Avenue and Van Name Avenue. The Harley-Davidson ground lease has approximately 18 years remaining. There are five five-year renewal options, with 10% rental escalations in each option.

“The long-term lease to a high performing Harley-Davidson dealer made this an attractive investment” said Blankstein, president of The Boulder Group. Added Goodman, partner of The Boulder Group, “Properties in top MSAs like New York City are some of the highest targeted investments.”

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Inside The Story

Boulder Group’s Blankstein and Goodman

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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