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New York & Tri-State  + New York  + Retail  | 

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.

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Inside The Story

Read more at PR NewswireConnect With Kaufman New Ventures’ LeffelConnect With Greiner-Maltz’s Maltz 

About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

  • ◦Sale/Acquisition