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Hunter’s Point Cardinal Building Acquired, Preps for Reimaging
The Kaufman Organization acquired the Cardinal Building, a 65,000-square-foot property in Long Island City’s Hunter’s Point neighborhood, via a 99-year ground lease. The asset was sold by Martial Enterprises for an undisclosed amount.
The three-story building located at 21-01 51st Ave., will undergo an extensive capital improvement campaign, transforming the asset into a top-tier office and retail destination. The investment and reimaging is expected to attract innovative, cutting-edge firms to this burgeoning area of Queens.
Kaufman New Ventures’ Fred Leffel says, “Kaufman has seen tremendous recent success with the repositioning of properties in Midtown South, and is proud to bring this same expertise to Long Island City. This is our second investment in Hunter’s Point, an area that is quickly becoming a dynamic hub for creative companies.”
Greiner-Maltz’s Ryan Maltz brokered the transaction.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition

