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Jackson Heights Retail Sale Sets Local Pricing Record
Marcus & Millichap has arranged the sale of 74-12 to 74-24 37th Ave., a 10,001-square-foot retail property in the Jackson Heights section of Queens. The asset sold for $16 million, or a new local record of $1,600 per square foot.
Dana Newton and Donovan Mackey of Marcus & Millichap’s Philadelphia office teamed with Manhattan-based retail specialist Scott Plasky to exclusively market the property, on behalf of seller Chui King Yee. “This transaction represents premium pricing accomplished through our marketing efforts and the firm’s national listing platform,” said Newton. “Nineteen offers were generated, creating a competitive landscape for this investment opportunity, and the ultimate buyer was forced to step up to a stronger offer.”
Located at the intersection of 37th Avenue and 75th Street, the property was fully occupied by longtime tenants at the time of sale.
For comments, questions or concerns, please contact Paul Bubny
- ◦Sale/Acquisition

