A&G is auctioning a newly constructed residential tower with 23 residential units in Downtown Flushing, NY

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FLUSHING, NY, July 14, 2021 / PRNewswire / – A&G Real Estate Partners is now accepting offers from developers or investors for the Barclay Tower, a newly constructed 23-unit residential building in this densely populated area of Queens. Designed and built to be marketed as a condominium but is currently vacant, the property is being offered for sale as part of a planned bankruptcy auction September 14th, with bids due on September 10.

Located on Barclay Ave. 144-69, between Parsons Boulevard and 147the Street, the seven-story building is just a few steps from downtown do the washing up. The location is also two blocks from the Long Island Railroad Murray Hill Train station, which is an approximate 20-minute drive into the Manhattan.

Barclay tower offers a mix of five one-bedroom units, 17 two-bedroom units, and one three-bedroom unit from 670 square feet to 1,370 square feet (building average 881 square feet). All two-bedroom units have two bathrooms and all but two units have balconies averaging 50 square feet. All units are ready.

The elevated building has a virtual doorman as well as a large outdoor area on the roof that offers expansive views of the surrounding area. The site also includes 17 parking spaces.

“This auction is a great opportunity for buyers to capitalize Queens booming housing market, “said Jeff Hubbard, Senior Managing Director, Real Estate Sales at the Melville, NY-based A&G. “With such a limited number of new buildings in the region, the acquisition process is Barclay tower At auction, getting condo plan approval and selling the units provides an expedited way for an investor or developer to bring a new product to market. Buyers also have the option of marketing the building as a rental property. ”

According to The Elliman Report, sales volume of all condominiums in the first quarter of 2021 in do the washing up increased by 20% compared to the fourth quarter of 2020. The average selling price of newly built condominiums in do the washing up was $ 1,158 per square foot, the report added. Barclay Towers The immediate market is home to 147,163 people within a one mile radius. The location is in close proximity to attractions such as the Queens Botanical Garden, the Queens Zoo and Citi field, and has easy access to several major highways.

Hubbard determined that the property was subject to approval by the US Bankruptcy Court, Eastern District of. on sale is new York (Case No. 20-43052).

To get a copy of the confidentiality agreement, make an appointment to view the property or receive additional information about Barclay tower, contact Hubbard at [email protected] or A&G Senior Managing Director Jamie Cote, [email protected] or A&G Co-President Emilio Amendola, [email protected]

More information about the property can be found at: https://barclaytowerauction.com/

About A&G Real estate partner
A&G is a team of seasoned commercial real estate experts and subject matter experts who develop strategies to achieve the highest possible value for clients’ properties. Core competencies include reducing usage costs, terminating leases, divestments, property sales, property due diligence, valuations, acquisitions and enabling growth opportunities. With its marketing knowledge, reputation and advanced technology, A&G has advised the country’s best-known retailers and companies in both healthy and difficult situations. The law firm’s team has achieved rent reductions and savings in usage costs that are approaching $ 8 billion on behalf of clients from all real estate industries and sell more than $ 12 billion of real estate and rental contracts that are not part of the core business. A&G was founded in 2012 and is headquartered in Melville, NY Further information can be found at: https://www.agrep.com/

Press contacts for A&G: Jaffe Communication (908-789-0700), Bill Parness, [email protected] or Elisa Krantz, [email protected]

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