Description

ERG Commercial Real Estate is proud to announce the recent closing of 201-03 Northern Boulevard in Bayside, Queens. This building is a two story mixed-use retail/office building that was owner occupied on the ground floor and leased on the second floor. Upon sale, the seller would have to deliver the ground floor vacant and violation free despite the property having several open work permits and ECB Violations. We were able to reconnect the seller with the architect of 30 years ago as well as expeditors to clear all violations and begin the process of closing out the work permits. In addition to handling the property’s violations, we facilitated a safe closing adhering to social distancing protocols, in light of the COVID-19 pandemic. The final sale price of the property was $1,175,000, which calculates to $653 per square foot, a premium for this location.