The Danco Family Acquires Office Building On Queens-Midtown Expressway In New York City For $4M

The office property located at 66-00 Queens-Midtown Expressway in New York City has been sold in a closed transaction. The property spans 15,650 square feet and was sold for a price of $4,000,000, resulting in a price per square foot of $256. The cap rate for the transaction is 6.4%.

Summary of Transaction Details:

• Property Type: Office
• Sale Price: $4,000,000
• Square Footage: 15,650
• Price Per Square Foot: $256
• Cap Rate: 6.4%
• Address: 66-00 Queens-Midtown Expressway, New York City

The buyer of the property is The Danco Family, while the seller is The Lorraine E. Ripley Revocable Trust. Stephen R. Preuss Sr., Andreas Efthymiou, and Christian Allimonos from Ripco represented the parties involved in the transaction as brokers.