June 12, 2019
Cushman & Wakefield’s Stephen Preuss and Rani Bendary have arranged the sale of 37-55 61st St. in the Woodside section of Queens. The 6,200-square-foot industrial property sold for $3,260,000, or approximately $525 per square foot.
Preuss and Bendary represented the seller, Herman Zhou, in this transaction. The building was purchased by Judy Troung.
“The sale of 37-55 61st presents the ideal redevelopment opportunity at $232 per buildable square foot,” said Preuss. “The new owner-user is now in one of the most trafficked locations throughout the borough, where industrial products are few and far between.”
37-55 61st’s new owner will have the ability under current zoning to expand by 9,600 square feet, totaling 15,800 square feet. The property is located directly between Broadway and Roosevelt Avenue on the two-way trafficked 61st Street.
For comments, questions or concerns, please contact Paul Bubny