QUEENS, NY-A three-story elevatored commercial building at2856-2860 Steinway St. in the Astoria section of Queens was sold tolocal investor Orin Wilf of Skyline Developers for $22.5 million. Asource close to the deal tells GlobeSt.com that the seller of theproperty was Meir Cohen and Ben Korman.
The seller chose to sell because the timing was right in themarket, the source explains. “At $22.5 million, this dealrepresented what we believe is the largest single-building retailtransaction in Queens so far this year.”
The source adds that the building is a great retail site becauseit offers 100 feet of frontage on Steinway and 190 feet of frontageon 30th Ave.–both bustling streets. There were several draws to theproperty, the source explains, noting that one draw is that “retailtenants are responsible for all utilities and tax increases above abase year, while the landlord is responsible for partialtaxes.”
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