JP Morgan Acquires Retail Property On Grand Avenue In Maspeth For $48.25M

The property involved in the transaction is a Retail asset located at 74-25 Grand Avenue in Maspeth, Queens. The property spans 99,837 square feet and was sold for $48,250,000, equating to a price per square foot of $483.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $48,250,000
• Buyer: JP Morgan
• Seller: Acadia Realty Trust
• Brokers: Adam Spies, Adam Doneger, Monica Brendsel & Daniel O'Brien - Newmark

The deal involved notable individuals such as Adam Spies, Adam Doneger, Monica Brendsel, and Daniel O'Brien from Newmark who represented the buyer and seller in this transaction.