NEW YORK CITY—For investors who've had a hard time getting into Queens in the midst of the renaissance happening in the outer boroughs, now's your chance.
A mixed-use property in Flushing—the largest downtown section of Queens—is set to come up for a bankruptcy auction next month, a rare type of marketing process in the city. Situated within one mile of no less than six construction projects, the Shirokia Tower, at 142-28 38th Ave., is valued at around $30 million, or $560 per square foot.
Several unusual elements of the building's story have dovetailed to create the need for an auction, Paramount Realty USA principal Misha Haghani—who is co-marketing the property with Greg Corbin, managing director of the Corbin Group at Besen & Associates—tells GlobeSt.com.
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Rayna Katz
Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.
