Watermark Capital Acquires Ground Lease In Flushing, Queens For $18M
LEASED
New York
See Similar DealsDevelopment Site12,400 SF
Leased
LEASED
Watermark Capital Acquires Ground Lease In Flushing, Queens For $18M
13825 Barclay Avenue, Flushing, NY 11355, USA
See Similar DealsDevelopment Site12,400 SF
Leased
Summary
NEW YORK
Asset Type:Development Site
Total Square Footage:12400 SF
Transaction Type:Lease
A ground lease transaction has taken place in Flushing, Queens. The development site located at 138-25 Barclay Avenue was involved in this transaction. The property has a zoning designation of R7-1, making it suitable for development.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $18,000,000
- Address: 138-25 Barclay Avenue
- Market: Flushing, Queens
- Zoning: R7-1
Watermark Capital acquired the property in this ground lease deal. The seller of the property was St. Michaels Catholic Church. The transaction was facilitated by CBRE, with Dan Kaplan, Justin Arzi, and John Reinertsen representing the seller.
The property consists of 42,656 square feet of buildable space, with a price per buildable square foot of $421.
Players
Details
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Similar Deals
Contact
Get in touch with the broker you want
Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
NNN (Triple Net)
Effective Rent (Annual)
$710,760.52
Total Lease Value
$7,107,605.17
Net Landlord Cash Flow$710,760.52
Is there something missing? Send suggestions