RIPCO Real Estate has been selected to handle the sale of Jackson Square, a nine-story mixed-use building located at 23-20 Jackson Ave. in Long Island City. The asking price is $65 million.
The firm’sStephen R. Preuss Sr. and Andreas Efthymiou represent the seller, Vorea Jackson LLC. The property contains retail, office, a 72-room hotel and rooftop event space. The hotel is currently being operated by San Francisco-based short-term rental company Sonder Corp. Current tenants of the property include Compass, GNC, Spectrum and The Tippler.
“Jackson Square’s blend of hospitality, retail and restaurant use demonstrates that Long Island City is much more than a commuter neighborhood,” said Preuss. “With nearly a dozen ongoing development projects and sleuth of residential units popping up within a three-block radius, Jackson Square is meeting the surging population by bringing a live-work-play environment to both residents, commuters, and tourists, creating the ideal investment.”
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-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 15-20 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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