The top 10 commercial property sales in Queens in 2018 had a combined value of $1.5 billion and included a mix of property types. Leading the pack was Blackstone Group’s acquisition of 104-20 Queens Boulevard in Forest Hills for $475 million. The firm purchased Parker Towers from the Jack Parker Corporation. Blackstone views the buildings as an affordable choice for renters looking to live outside of Manhattan and more expensive Queens neighborhoods such as Long Island City.
TOP COMMERCIAL PROPERTY DEALSIN QUEENS IN 2018
|1||104-20 Queens Boulevard||Apartment||November||$475M||Blackstone Group||Jack Parker Corporation|
|2||29-22 Northern Boulevard||Mixed-use||October||$313M||Simon Baron Development||Quadrum Global|
|3||23-01 42nd Road||Apartment||November||$284M||Carlyle Group||Property Markets Group; Hakim Organization; New Valley|
|4||30-77 Vernon Boulevard||Apartment||April||$83M||Wainbridge Capital; Cape Advisors||Khan Criterion Group|
|5||30-02 48th Avenue||Office||October||$75M||Alexandria Real Estate Equities||Brickman Real Estate|
|6||54-15 Grand Avenue ( Part of a three-property portfolio)||Mixed-use||January||$72M||LBA Realty||Cascades Containerboard Packaging and Star Corrugated Box Co.|
|7||27-17 42nd Road||Mixed-use||October||$67M||Star Tower Condo Holdings||Eastern Star Development|
|8||29-21 41st Avenue||Hotel||March||$60M||Lightstone Group||Phillip Ashkettle, MCS Capital Partners, Ranger Properties|
|9||94-25 57th Avenue||Apartment||March||$57M||Zara Realty||TreeTop Development|
|10||82-11 37th Avenue, 82-01 37TH Avenue||Mixed-use||July||$56M||RockFarmer Properties; RWN Real Estate Partners||Carlo Cinganelli|
Source: TRD analysis of public records for closed sales transactions in Queens in 2018.