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Acadia Realty Trust And TPG Acquire Retail Space At 40-24 College Point Boulevard For $424.4M

Property Image
SOLD
$424,400,000
Marcella Fasulo
Joshua King
+ 5

New York

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Retail555,376 SF
Sold
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Property Image
SOLD

Acadia Realty Trust And TPG Acquire Retail Space At 40-24 College Point Boulevard For $424.4M

40 24 College Point Boulevard

See Similar Deals
Retail555,376 SF
Sold
Marcella Fasulo
Joshua King
+ 5
Contact now

Summary

NEW YORK
Asset Type:Retail
Price Per Square Foot:$764
Total Square Footage:555376 SF
Transaction Type:Sale

The asset involved in this transaction is a retail property located at 40-24 College Point Boulevard, known as the Shops at Skyview. The sale price was $424,400,000, with a total square footage of 555,376 and a price per square foot of $764. This property is situated in the Flushing market.

Summary of transaction details:

The transaction involved key players, including buyers Acadia Realty Trust and TPG, and the seller, Perform Properties. The brokerage team from Newmark consisted of Adam Spies, Adam Doneger, Douglas Harmon, Joshua King, Marcella Fasulo, Avery Silverstein, Benjamin Lushing, and Conor Lalor, who facilitated this substantial deal.

Players

Adam Doneger
185 deals$50B volume(516) 317-7837
BROKER

Avery Silverstein
Newmark
60 deals$14B volume(212) 850-5432
BROKER

Adam Spies
Newmark
256 deals$71.4B volume(212) 841-7500
BROKER

Douglas (Doug) Harmon
Newmark
126 deals$47.5B volume
BROKER

Joshua King
Newmark
111 deals$31.8B volume(212) 850-5427
BROKER

Marcella Fasulo
Newmark
90 deals$25.7B volume
BROKER

Benjamin (Ben) Lushing
Newmark
17 deals$2.8B volume
BROKER

Conor Lalor
Newmark
9 deals$1.4B volume(404) 956-3295
BROKER

Newmark
BROKERAGE


Details

SOLD
IMAGE: Adam Spies, Douglas Harmon, Adam Doneger, Marcella Fasulo, Joshua King, Avery Silverstein, Benjamin Lushing & Conor Lalor DATE: 1/9/2026 ADDRESS: 40-24 College Point Boulevard (Shops at Skyview) MARKET: Flushing ASSET TYPE: Retail BUYER: Acadia Realty Trust (@AcadiaRealtyTrust) & TPG SELLER: Perform Properties BROKERS: Adam Spies, Adam Doneger (@ADoneger), Douglas Harmon, Joshua King (@JoshAdamKing), Marcella Fasulo (@MMFasulo), Avery Silverstein (@Avery.Morgan810), Benjamin Lushing (@BenLushing) & Conor Lalor - Newmark (@Newmark) SALE PRICE: $424,400,000 SF: 555,376 ~ PPSF: $764

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$22,634,666.66

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$1,507,803.57
Cash-on-Cash Return-1.27%
Monthly Debt Service$2,011,872.52
Annual Debt Service$24,142,470.23