News
Rare REO retail sale: GFI Realty Services
PUBLICATION: Real Estate Weekly
Date: Jun 06, 2011
GFI Realty Services has been retained on an exclusive basis to sell retail space located at 160-08 Jamaica Ave in Queens.
This property is located in the heart of the busy Queens shopping area and consists of 57,000 s/f of multi-level retail along with 10O,000 s/f of air rights.
Yosef Katz, senior broker at GFI Realty Services, is representing the private financial institution, Petra Capital, in the REO sale.
"Retail space with this potential does not come to market often," said Katz. "This is one of New York City's busiest commercial corridors, making the vacant space an ideal asset for an investor. There are tremendous possibilities for future use, including the option of adding a residential component if so desired."
The property is located within walking distance of the E,F,J, and Z trains, in addition to the 31 bus lines that serve the area.
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