Flushing Lot 7, LLC Acquires One-Story Retail In Bayside, Queens For $13M

The one-story retail property located at 42-31 Bell Boulevard (214-01 43rd Avenue) in Bayside, New York has been sold for $13,000,000. The property spans 10,092 square feet and was sold at a price of $1,338 per square foot. The capitalization rate for this transaction is 4.88%.

Summary of transaction details

• Property Type: One-Story Retail
• Transaction Amount: $13,000,000
• Square Footage: 10,092 sf
• Price Per Square Foot: $1,338/SF
• Capitalization Rate: 4.88%

Gem Associates, A Lim, the seller of the property, completed the transaction with the buyer, Flushing Lot 7, LLC. The deal was facilitated by Stephen R. Preuss and James A. Nelson of Cushman & Wakefield, who represented the parties involved.