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Pre-K Center in Richmond Hill Trades for $5M
Cushman & Wakefield has arranged the sale of 132-10-132-16 Jamaica Ave., a fully-leased single-unit commercial building located in the Richmond Hill section of Queens. Buyer Solomon Isakov paid $5 million, or $406 per square foot, for the 12,360-square-foot property, which is fully leased to the New York City School Construction Authority.
Cushman & Wakefield Senior Managing Director Stephen R. Preuss led the marketing efforts on behalf of the seller, 132-10 Jamaica Ave Realty Corp. “The buyer acquired a recently-renovated asset, net-leased to the City of New York,” said Preuss. “The tenant, who is currently operating the building as a New York City public school, is responsible for the cost of utilities, plus the increase in taxes over base year.”
Since November 2014, the SCA has occupied the space as a New York City Public School, District 28 Pre-K Center and has put approximately $5 million into building renovations.
For comments, questions or concerns, please contact Paul Bubny
- ◦Sale/Acquisition
