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LIC Mixed-Use Comes to Market with $65M Price Tag
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’s Stephen 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.”
- ◦Sale/Acquisition
