One Queens Plaza South hits the market
Rendering of One Queens Plaza South
A 391-unit residential building in Long Island City has hit the market, where experts expect it to receive bids of around $275 million.
One Queens Plaza South, which stands 45 stories tall and is located at 42-20 24th Street, opened last year and is already 97 percent leased, according to Real Estate Alert. Property Markets Group owns the tower with the Hakim Organization and Howard Lorber s New Valley, and a Hodges Ward Elliott team led by Will Silverman, Paul Gillen and Daniel Parker is representing them in the sale.
The owners previously hired Eastdil Secured to sell the building in 2016, but the effort was unsuccessful. The sales pitch at that time was to sell the units as condos, whereas this time the pitch will focus more on using them as rentals.
All apartments at the building are market-rate, with amenities including a rooftop pool, a rock-climbing wall, a library, a playground, a fitness center and a garage with 62 parking spots. [REA] – Eddie Small
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.
REAL NEWS, REAL DEALS DELIVERED DIRECTLY TO YOUThe Real Deal’s newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.
We are having some technical difficulties. Try again later.