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New York & Tri-State  + Outer  |  February 4, 2019
Paul Bubny
By: Paul Bubny

Lee NYC Brokers Deal for Hallets Cove Parcel

Lee & Associates NYC’s Alfonso Holloman has arranged the $11.5-million sale of 26-24 & 26-26 Fourth St., in the Hallets Cove subsection of Astoria, to Bruman Realty. Holloman represented both Bruman Realty and the unnamed seller.

The property consists of two contiguous tax lots, which total 25,473 square feet, zoned residential. One of the tax lots is improved with a 20,000-square-foot warehouse, and the remainder is vacant land. A total of 67,982 square feet can be built on the property under existing zoning.

“This property couldn’t be positioned better in terms of development opportunities,” said Holloman. “The combination of the recent Amazon announcement, and the Durst Organization’s seven-building megaproject currently under construction nearby, will add to the excitement in this rapidly-changing neighborhood.”

The Astoria dock of the NYC Ferry is less than five minutes away on foot, providing regular access to both Lower Manhattan and Midtown.

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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