Alfonso Holloman, CCIM, Senior Managing Director/Principal of Lee & Associates NYC has arranged the sale of the property at 26-24 & 26-26 Fourth Street, between 26th and 27th Avenues, in the Hallets Cove subsection of Astoria for $11.5 million to Bruman Realty. The property consists of two contiguous tax lots, which account for a combined total of 25,473 square feet, zoned residential. One of the tax lots is improved with a 20,000-square-foot warehouse and the remainder is vacant land. A total of 67,982 square feet can be built on the property as of right.
“Located in the Astoria neighborhood of Hallets Cove, this property couldn’t be positioned better in terms of development opportunities,” explains Mr. Holloman, who represented both Bruman Realty and the unnamed seller. “The combination of the recent Amazon announcement and the Durst Organization’s seven-building megaproject currently under construction nearby will add to the excitement in this rapidly changing neighborhood.”
The Astoria dock of the NYC Ferry is less than a five-minute walk from the property, providing convenient access to both lower and midtown Manhattan.
About Lee & Associates NYC
The New York office of Lee & Associates, and its affiliated company Sierra Real Estate LLC, provides a full array of corporate advisory and commercial real estate services, including office and retail brokerage, sales and investments, and project and property management. Together, the firms have more than 85 real estate professionals in its 600 Madison Avenue headquarters office. Additional information is available at
www.leeassociatesnyc.com
About Lee & Associates
Lee & Associates is a commercial real estate brokerage, management and appraisal services firm. Established in 1979, Lee & Associates has grown its service platform to include offices in the United States and Canada. Lee & Associates provides superior market intelligence in office, industrial, retail, investment and appraisal to meet the specialized needs of our clients.For the latest news from Lee & Associates, visit lee-associates.com or follow us on Facebook, LinkedIn, Twitter and Link our company blog.
