Tag Archives: Real Estate

See It: Whitestone home with landscaped grounds, underground pool listed at nearly $1.7M

By Queens Courier Staff | editorial@queenscourier.com

Photos courtesy of Douglas Elliman

On a tree-lined street nestled in Whitestone lies a house that could make any person feel at home.

Douglas Elliman is offering the one-family home located at 149-32 Third Ave., which is move-in ready. Encompassing almost 4,967 square feet, the colonial home includes four bedrooms – with a master suite including a fireplace and Jacuzzi bathtub – three and a half designer bathrooms, and a backyard featuring an in-ground swimming pool and outdoor kitchen.

The home, which was built in 1960, lies less than two blocks away from a private beach and just minutes away from various local amenities.

Whether entertaining guests or just enjoying a family dinner, the home’s kitchen features granite-top counters with stainless steel appliance including a built in oven.

Along with the four bedrooms, the home also includes a dining room, office, library, mud room, family room and laundry room.

There is also a parking garage attached to the home and a partial basement.

Taxes run about $11,252 annually; the owner will also have to pay a Homeowners Association Fee of $964 per month.

Visit this website for more information.


See It: Forest Hills Gardens home on quiet block listed at nearly $2.3M

By Queens Courier Staff | editorial@queenscourier.com

Photos courtesy of Terrace Sotheby's International Realty

One of the many fine homes in one of Queens’ most beautiful and luxurious neighborhoods can be yours for just under $2.3 million.

Terrace Sotheby’s International Realty is offering the one-family home located at 52 Tennis Place in Forest Hills Gardens, which is ready to occupy. Encompassing 4,500 square feet, the home features five bedrooms, three full bathrooms, two half-bathrooms and a furnished basement.

Set on a lot measuring 0.63 acres, the single-family Tudor was built in 1920 and features some of its original old world elegance. The grand living room features a wood-burning fireplace and an adjoining solarium, and the formal dining room is lined with handcrafted moldings and French doors. The first floor also features a galley kitchen, a powder room, a family room and a butler’s pantry.

The master bedroom on the second floor includes a private bathroom and an additional sitting room that opens to a private terrace.

Taxes run about $15,164 annually; the owner will also be responsible for paying a $1,400 annual maintenance fee to the Forest Hills Gardens Corporation.

Visit this website for more information.


Ridgewood real estate conference brings together community and commerce

| agiudice@ridgewoodtimes.com

RIDGEWOOD TIMES/Photos by Anthony Giudice

Real estate moguls, business owners and residents filled the Ridgewood Ale House on Friday morning to hear a panel of experts discuss the future of Myrtle Avenue during the Ridgewood Real Estate Networking Breakfast Conference.

Sponsored by the Myrtle Avenue Business Improvement District (BID), the conference focused on how to better bridge the needs of the community and the types of retailers that come into the BID to help Myrtle Avenue grow and make the area even better for Ridgewood residents in the future.

“A lot of times what happens is, a store comes in just to come in and it’s really not what the neighborhood needs or wants because we already have an oversaturation,” said Ted Renz, executive director of the Myrtle Avenue BID. “But the property owner is interested because he wants to fill the space, the broker wants to make his commission, which is fine, but we want to build a better dialogue that we can all be happy together and everybody wins.”

One example of retail brokers working with the community is the case with the former Ridgewood Theater, a landmark fixture in the neighborhood that has been vacant for the last several years. Now, the theater will be converted to 55 units of housing with a mixed-use facility on the ground floor.

Renz hopes to see a collaboration with the owner and the BID to bring in a viable use for that floor through community engagement.

The need to remember what has worked in the past and to evolve for the needs of the future was highlighted throughout the conference by the panel of experts.

“We need a combination of being stuck where it’s good, but also evolve into something better,” said Linda Monte, panel expert and president of the Greater Ridgewood Historical Society. “How are we evolving? Are we letting it happen or are we actually having a sense of we can make it happen? So I think that that’s the challenge that we all need in terms of the Ridgewood community.”

When it comes to building larger retail developments, it is important for the developers to realize the identity of the community in which they are working.

“Particularly in retail, when we look to a market, especially the types of large-scale retail projects that we build, can that type of project make sense in the community? A lot of it has to do with what is the community’s identity and does the community actually want that,” said Scott Auster, panel expert and managing director for Grid Properties. There are certain communities that embrace that type of development and economic activity, and there are others that don’t necessarily want it.”

By bringing the community and retailers together, Myrtle Avenue can continue to be a viable hub for the residents of Ridgewood.


LIC property across from former 5Pointz site hits the market for $34M

| agiudice@ridgewoodtimes.com

Photo via PropertyShark by Scott Binter

A development site across the street from what was once home to the graffiti mecca known as 5Pointz in Long Island City is up for sale.

The property, located at 45-57 Davis St., is going for $34 million and is located within M1-5, R7-3, and Long Island City zoning districts, according to Cushman & Wakefield, the real estate firm in charge of selling the site.

The location holds approximately 108,000 square feet of buildable space on a 216-foot-by-100-foot lot.

A two-story building currently stands at the site, containing approximately 19,912 square feet on the three tax lots. The site is conveniently located near several subway lines and the Long Island Rail Road.

“This site is situated directly across the street from 5Pointz and many of the major new developments in the neighborhood,” said Stephen R. Preuss of Cushman & Wakefield, who is exclusively marketing this property with David Chkheidze.

“This pocket of Long Island City gives a developer the opportunity to be situated near many of the developments that will drastically change the landscape of the area,” Chkheidze added.


Prime three-story apartment building for sale in Ridgewood

By Queens Courier Staff | editorial@queenscourier.com

Photo courtesy PropertyShark/Christopher Bride

The booming real estate market in Ridgewood continues to grow.

A newly built three-story apartment building located at 59-25 Grove St., between 60th Place and Forest Avenue, is up for sale.

Greiner Maltz Investment Properties is currently accepting offers for the approximately 15,400-square-foot building.

Each story has five two-bedroom apartments, a storage room and a 10-spot parking area. Other featured amenities include a community barbecue, a terrace and a laundry room located in the building’s basement. Each tenant will be responsible for paying for their own utilities.

The building is located just four blocks away from the Fresh Pond Road M train stop.

For more information, visit Greiner-Maltz Real Estate.


Shipping service center affiliated with Amazon moving to Ridgewood

| agiudice@ridgewoodtimes.com

Photo courtesy of PropertyShark/Greiner Maltz

A major shipping provider is moving to Ridgewood as it expands its space in the borough.

LaserShip, a shipping service that distributes products for companies including Amazon, Staples and Office Depot, has agreed to leave their current location in Long Island City, and move into the larger warehouse at 16-70 Weirfield St., between Cypress and Wyckoff avenues, according to The Real Deal.

The Commercial Observer reported that the distribution company based out of Virginia has signed a 10-year lease to use the one-story, 40,800-square-foot warehouse in Ridgewood, giving it more than triple the space they had at the 36-01 47th Ave. location, which is a 13,000-square-foot warehouse.

The Ridgewood location is an ideal space for the distribution center, as it will place LaserShip between Brooklyn and Queens.

When contacted, LaserShip declined to comment.


See it: Malba cape with stunning water views listed for nearly $2M

By Queens Courier Staff | editorial@queenscourier.com

Photos courtesy of Sotheby’s International Realty

Enjoy living in the serenity of Malba with its beautiful water views in this cape-style home that is currently for sale.

The residence, located at 112 Malba Dr. sits on a 9,720-square-foot lot and is surrounded by several impressive mansions.

112 Malba Dr Malba NY 11357-print-031-17-Whitestone-4200x2801-300dpi

Featuring four bedrooms and two full baths, the house is listed for $1,950,000 with taxes of $12,908, and is being offered by Rula Baki and Stephanie Danias of Daniel Gale Sotheby’s International Realty.

Additional features of the home include a generous eat-in kitchen, formal dining room, living room with fireplace and a sun-drenched den.



Ridgewood to get 17-story mixed-use building on St. Nicholas Avenue

| agiudice@ridgewoodtimes.com

Rendering courtesy of AB Capstone

Plans for a large scale 17-story mixed-use building in the heart of Ridgewood have been filed with the Department of Buildings (DOB), according to Community Board 5 (CB 5).

The mixed retail and residential building will encompass the footprint of the sites at 54-27 Myrtle Ave. and 336 and 350 St. Nicholas Ave. At 17 stories, it will dwarf the surrounding buildings.

According to the plans filed earlier this month, there will be two retail spaces within the mixed-use structure, as well as several office spaces.

The site will have 129 residential units, according to Meir Babaev, of developer AB Capstone, owner of the properties.

“We are not quite certain yet regarding the percentage of units that will or will not be affordable. This will depend on the mayor’s office,” Babaev said.

AB Capstone purchased the sites last year and has set aside 87,441 square feet of space for the residential portion of the building; 88,598 square feet for the commercial aspects; and 3,265 square feet for an as-of-yet undefined community facility. This will total a square footage of 179,304 square feet, according to plans.

Babaev also confirmed that the site will have “below-grade attended parking.”

For future residents who depend on public transportation, the development site is located a block from the L and M Myrtle-Wyckoff Avenues subway station, and is near the B13, B26, B52, B54, Q55 and Q58 buses.


Burlington Coat Factory to open in Jamaica

By Queens Courier Staff | editorial@queenscourier.com

Photo via Flickr Creative Commons/Scott Schrantz


Burlington Coat Factory is coming to Jamaica, and it’s going to be huge.

The national clothing retail chain will be opening a store in a 150,000-square-foot planned retail complex located on Jamaica Avenue between Union Hall and 160th streets, according to published reports.

The store will take up 70,000 square feet and will spread across all three buildings, including parts of the second, third and fourth floors.

According to DNAinfo, the buildings in question include the former headquarters of the Jamaica Savings Bank, which was located in a landmarked Beaux-Arts building; another historic building constructed in 1927; and a building that has been vacant for several years.

The store, which is set to open in the spring of 2017, will join Burlington’s two current Queens locations in Rego Park and Glen Oaks.


See it: Brick Tudor home with two fireplaces sells for nearly $1.75M in Forest Hills Gardens

By Queens Courier Staff | editorial@queenscourier.com

Photo courtesy of Terrace Sotheby's International Realty


A three-bedroom, 2.5-bathroom Tudor home located at 36 Rockrose Pl. in Forest Hills Gardens has been sold, according to Terrace Sotheby’s International Realty.

Designed by renowned architect Grosvenor Atterbury, this brick home features an enclosed front porch, finished basement, two-car detached garage and fireplaces in both the living room and dining room. The kitchen has been fully renovated and outfitted with custom cabinetry. The backyard includes a patio and a gas line for a barbecue grill, perfect for outdoor entertainment.

The house sold for $1,743,500, approximately $155,000 less than its original asking price of $1,899,000.


Queens real estate sales drop, but turn bigger profits in recent months: report

| rpozarycki@queenscourier.com

File photo

Reflecting a market gripped by high demand and low supply, real estate sales in Queens decreased slightly but yielded higher prices during the second quarter of 2015, according to a report from broker Cushman & Wakefield.

Approximately 230 properties across the “World’s Borough” changed hands between April and June of this year, a 7 percent drop from the number sold during the first quarter of 2015. Even so, the aggregate sales consideration this quarter — the volume of money exchanged in real estate transactions — reached $835 million, an 8 percent increase from the first quarter.

Cushman & Wakefield described the first six months of 2015 as the second-highest dollar volume the Queens real estate market has seen within the first half of any year, with $1.6 billion in real estate sales generated.

“[At $313 million], development sites accounted for 20 percent of all dollar volume,” the report indicated, “followed by retail properties, with $259 million accounting for 16 percent of the total dollar volume.”

The average price for all types of real estate sold in Queens was $3.4 million, an 18 percent jump from the first half of 2014.

Queens’ strong real estate numbers were evident of a continued upward trend in New York City’s real estate market. According to the report, $37.8 billion in sales activity took place through June, and the city is “on pace to exceed the previous cycle’s high established in 2007.”

“The first half of 2015 will go down as one of the best six-month periods in the city’s history,” said Adrian Mercado, Cushman & Wakefield managing director of research. “All submarkets and property types are firing on all cylinders with market activity outpacing our year-end forecasts.”

Cushman & Wakefield catalogued 141 sales in Queens in which properties were sold for $1 million or more during the second quarter of 2015, accounting for 61.3 percent of real estate transactions during the period.

Among the most lucrative deals were the $71 million sale of an office building at 33-00 Northern Blvd. in Long Island City; a $4.35 million sale of a 23-unit lot of apartment buildings at 1705-1725 Putnam Ave. in Ridgewood; a $72.25 million sale of a 144-unit apartment building at 11-15 Broadway/30-50 21st St. in Astoria; and a $8.8 million sale of a 43,800-square-foot industrial building at 72-42 60th Lane in Glendale.


In Bayside, activists call to keep unwanted ads away from homes

| rpozarycki@queenscourier.com


Community activists gathered outside state Senator Tony Avella’s office Thursday afternoon to call for an extension of the state’s “cease-and-desist” law, which empowers Queens homeowners to prohibit unwanted solicitations from real estate brokers.

The original law, which expired in August 2014, allowed homeowners to register with New York’s Department of State on a list banning brokers from sending advertisements to the registered addresses.

Once the law expired, Avella stated, local property owners became inundated with “predatory real estate solicitations.” During the most recent legislative session, he introduced a bill extending the cease-and-desist law and strengthening it by expediting the registration process for homeowners. The bill would also designate Queens as a “non-solicitation zone” and double its length of protection to 10 years.

“These aren’t just nuisance fliers, but an aggressive campaign to bully homeowners into thinking it’s time to sell, and time to sell low,” Avella said. “We must bring back the common-sense law that expired last year and pass my real estate ‘cease-and-desist’ legislation.”

Numerous civic activists in the area demonstrated their support for the legislation at Thursday’s press conference.

“Sometimes, the [brokers] are particularly aggressive and call or even visit the homeowners repeatedly to try to broker a deal,” Henry Euler of the Auburndale Improvement Association said. “The ads often promise that the homeowners can get huge amounts of money for their homes and give examples of homes in the neighborhood and what they are selling for or have sold for recently.”


See it: Jamaica Estates home with sauna and steam room selling for nearly $1.6M

By Queens Courier Staff | editorial@queenscourier.com

Photos courtesy of MLSLI/Douglas Elliman Real Estate


Who needs to visit the spa when there’s one right in the house?

For an asking price of approximately $1.6 million, future residents of 184-53 Cambridge Rd. in Jamaica Estates will have everything they need to pamper themselves on a whim. The basement of this three-bedroom, two-bathroom home comes with not only a Jacuzzi, but also a sauna and a steam room. A wet bar and spacious sitting area on the same floor would make it the ideal place to host spa parties.

The upper floors of the house are equally luxurious and suited to an owner who loves to have lots of company. An eat-in kitchen with attached dining area and a living room warmed by a marble gas fireplace are perfect for hosting winter parties, while the large outdoor sun deck and enormous grassy backyard are great spots for summer get-togethers.

This house also features an office, a laundry room, an in-ground sprinkler system and a detached garage.



College Point industrial and office building selling for $4.4M

By Queens Courier Staff | editorial@queenscourier.com

Courtesy  of PropertyShark/Scott Bintner


A 21,058-square-foot corner building located at 14-29 112th St. in College Point is selling for $4.4 million, according to an announcement by real estate firm Cushman & Wakefield.

The industrial and office building is located on a 35,060-square-foot lot and was formerly the site of a medical facility with light industrial activity. The facility will be closing up shop and leaving the premises within the year.

The site is described as ideal for an owner-user. Stephen Preuss, executive director of Cushman & Wakefield, said, “The most common buyers are owner-users — people who will purchase the property and use it for their own business. There’s a lack of usable industrial and warehouse property because a lot of land in Queens is now taken up by residential development sites. Owner-users are the most interested and the most aggressive parties looking at this property.”


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Former LIC auto shop sells for $4.27M

By Queens Courier Staff | editorial@queenscourier.com

Photo courtesy of PropertyShark/Scott Bintner


An 8,540-square-foot warehouse in Long Island City has sold for $4,270,000, according to an announcement by John Horowitz of Marcus & Millichap, a commercial real estate investment services firm.

The warehouse, which is located at 38-04 11th St. and sits on a lot with 42,700 square feet of buildable land, was formerly the site of an auto shop; however, the warehouse is currently vacant.

“The sale of 38-04 11th St. at $100 per buildable square foot marks a price record for a commercially zoned redevelopment opportunity in the industrial section of northern Long Island City. The property’s buyer plans to redevelop the existing warehouse into a hotel,” according to Jakub Nowak, one of the agents who marketed and secured the sale of the property.

The buyer has been identified as Alec Shtromandel, who is currently building a 34-room hotel at 489 Baltic Street in Brooklyn that he also purchased from Marcus and Millichap last year.

Apart from demolition permits, no plans have been filed or released for the site.