BLDG Management Acquires Multifamily Leasehold In Flushing, Queens For $86.5M

The Urban NYC, a multifamily leasehold property located at 144-74 Northern Boulevard in Flushing, Queens, has been sold in a closed transaction. The property consists of 103 units, and the sale price amounted to $86,500,000, resulting in a per unit price of $839,806. The buyers of the property are BLDG Management, while the sellers are Skyview Companies and JP Morgan Global Alternatives.

Summary of transaction details

• Property Type: Multifamily Leasehold
• Transaction Amount: $86,500,000
• Address: 144-74 Northern Boulevard - The Urban NYC, Flushing, Queens
• Market: Flushing, Queens
• Buyer: BLDG Management
• Seller: Skyview Companies & JP Morgan Global Alternatives
• Brokers: Helen Hwang, Brian Szczapa, Karen Wiedenmann & Yasmin Kheradpey - Meridian Capital Group
• Units: 103
• Price Per Unit (PPU): $839,806

Helen Hwang, Brian Szczapa, Karen Wiedenmann, and Yasmin Kheradpey from Meridian Capital Group represented the buyer and seller in this transaction.