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New York & Tri-State  + Long Island  |  May 2, 2019
Paul Bubny
By: Paul Bubny

JP Morgan Hires CushWake to Sell LI Air Rights

Cushman & Wakefield has been hired to market for sale 22 Grace Ave., a 7,200-square-foot building on a 38,544-square-foot lot in Great Neck, NY. The lot is currently the site of a freestanding Chase Bank owned and occupied by JP Morgan Chase, which has retained Cushman & Wakefield for the sale of air rights over the property.

The site is slated for luxury residential units, where Chase Bank will keep its ground floor retail presence.

“22 Grace Ave. is the most exciting development in Nassau County which will transform the way Great Neck lives and works,” said Daniel Abbondandolo of Cushman & Wakefield. “With downtown Great Neck seeing a resurgence of developments, this transit-oriented site offers the opportunity to invest in a rapidly-growing Long Island rental market.”

Abbondandolo and his colleagues, Melissa Naeder and Dimitri Mastrogiannis, are leading the marketing efforts on behalf of the seller.

For comments, questions or concerns, please contact Paul Bubny

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-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 7-10 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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  • ◦Sale/Acquisition