LEASED
Watermark Capital Acquires Ground Lease In Flushing, Queens For $18M
138-25 Barclay Avenue
Development Site
12,400 SF
12,400 SF
Leased 1 year ago
Summary
Lease
NEW YORK
Development Site
12,400 sqft
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
All
4
Agents
3
Agencies
1
Details
LEASED
IMAGE: LEASE
IMAGE: Justin Arzi, Dan Kaplan & John Reinertsen
DATE: 02/26/2021
ADDRESS: 138-25 Barclay Avenue
MARKET: Flushing, Queens
ASSET TYPE: Development Site ~ ZONING: R7-1
BUYER: Watermark Capital
SELLER: St. Michaels Catholic Church
SELLER’S REP: Dan Kaplan, Justin Arzi & John Reinertsen - CBRE
PRICE: $18,000,000
BSF: 42,656 ~ PPBSF: $421View on map
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Address138-25 Barclay Avenue
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