2-33 50th avenue
The Location: The building is located on the lot of 138-25 Barclay Avenue in the Flushing, Queens district.
The Building: The R7-1 zoned, 42,656 BSF development site allows for residential development. The lot size is approximately ~12,400 SF.
Deal History: The development site includes a two (2) story religious facility that will be demolished to make way for the new development, the facility is the former home of St. Michael’s Catholic Church.
● Recently Featured Deals:
○ A $32 million, 52,000 SF mixed-use property located at 248 Bedford Ave. & 195 Berry St.
○ A $45 million, 34,000 SF mixed-use property located at 831, 835, 837 Madison Avenue
The Buyer: Watermark Capital Partners, LLC is a leading real estate investment management firm.
● Contact Info:
○ Phone: 847-482-8600
○ E-mail: firstname.lastname@example.org
○ Social: Linkedin
The Seller: The congregation of St. Michael’s Catholic Church sold the property.
● Contact Info:
○ Website: www.stmichaelsflushing.org
○ Phone: 718-961-0295
○ E-mail: email@example.com
The Listing Description: Located at 138-25 Barclay Avenue, this Development Site (Zoning: R7-1) is currently a religious property located in the Flushing neighborhood in Queens, NY. The property was originally built in 1965 and has 2 stories and 1 unit.
Behind The Bricks:
(Credit: St. Michael’s Flushing Website
● StreetEasy: Here
● Instagram Post: Here
● Traded Transaction: Here
● Zola: Here
The Date: February 26th, 2021
Recent Trades Brokered By Daniel Kaplan, Justin Arzi, & John Reinersten
Steven Rutman and Ethan Stanton of JLL brokered the 21,154 SF new construction medical office building located at 55-01 Myrtle Avenue.
Dan Kaplan, Justin Arzi, & John Reinersten brokered the development site that previously housed St. Michael’s Catholic Church.
The 457,520 BSF Long Island City development site is under contract.