6344 Austin Street, Rego Park, NY 11374-2923

Rego Park, Rego Park, New York 11374-2923

$8,450,000   $7,950,000  

Listing ID Number

25361

Property Description

Cushman & Wakefield is pleased to announce that it has been retained on an exclusive basis to arrange for the sale of a 16,900 square foot, fully renovated, single-story office building in Rego Park, NY. The entire building is occupied by GSA / Social Security Administration. The property has recently undergone a $2 million renovation whereas the tenant is responsible for $1.5 million of the cost, of which $457,233.54 currently remains and is paid in monthly installments over the remaining 2 years at 7% interest (compounded annually). The property is ideally located, on the south side of Austin Street between 63rd Drive & 63rd Avenue, in a highly dense residential neighborhood and within a short walk to Queens Boulevard and Rego Center. It also enjoys proximity to numerous bus lines, the M & R subway station (25 minutes to Midtown Manhattan), Long Island Expressway, Grand Central Parkway, and Woodhaven Boulevard.
This property poses an ideal investment or 1031 exchange opportunity. Inspection of the building must be made by appointment only. Please contact one of our exclusive agents below for additional information.

Overview

Building Type:Commercial Buildings
Lot Dimensions:120 x 156.17 Irr.
(approx.)
Lot Sq Ft:17,200 SF
(approx.)
Stories:1
Zoning:C8-1
Building Sq Ft:16,900 SF
(approx.)
Building Dimensions:115' x 156' Irr.
(approx.)

Documents

Contact

For further information or inspection, please contact Exclusive Agents:

Thomas A. Donovan
Vice Chairman
(718) 512 2626
tom.donovan@cushwake.com

Tommy C. Lin
Director
(718) 512 2609
tommy.lin@cushwake.com

Eugene Kim
Director
(718) 512 2618
eugene.kim@cushwake.com

Robert Rappa
Associate Director
(718) 512 2601
robert.rappa@cushwake.com


Property Images

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Property Map


Aerial View


The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it. All zoning, buildable footages and uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example. It does not necessarily relate to actual vacancy, if any. The value of this investment is dependent upon these estimates and assumptions made above, as well as the investment income, the tax bracket, and other factors which your tax advisor and/or legal counsel should evaluate. THE PROSPECTIVE BUYER SHOULD CAREFULLY VERIFY EACH ITEM OF INCOME, AND ALL OTHER INFORMATION HEREIN.