Asking Price
NOI Net Operating Income
Cap Rate
Asking Price
NOI Net Operating Income
Cap Rate

Documents

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Attributes

Tenure Type Freehold
Building Area
Number of units 60

Property Description

JLL has been retained on an exclusive basis to arrange the sale of 62-82 Saunders Street, a 6 story, 60-unit, brick multifamily building located in a strong location in Rego Park, Queens.



DESIRABLE NEIGHBORHOOD


• Strong in-fill location in well established, stable

neighborhood

• Abundant amenities near by including grocers, dining,

shopping, and nightlife



STRATEGIC LOCATION


• Immediate access to Long Island Expressway and

Queens Boulevard

• Immediate access to the M + R trains



SECURITY OF RENTAL INCOME


• Located in a neighborhood with a history of strong

occupancy

• Modest difference between rents being achieved in

free market and rent stabilized units



RECESSION RESISTANT CASHFLOW


• Workforce housing provides strategic recession

resistant investment opportunity

• Offers strong in-place cash flow

Investment Highlights

Rego Park is a vibrant community in Central Queens that has a lot to offer. Restaurants, shopping, cultural amenities, and excellent transportation all combine to create a neighborhood which is in high demand for renters and buyers alike.



Overflowing with cuisine from local eateries with authentic cuisine as well as national food chains, Rego Park promises not to disappoint. The restaurants range from upmarket fine dining to small pubs and cafes with variety of offerings from different regions of the world.



Concentrated around the shopping districts lining Woodhaven Boulevard, Queens Boulevard, and 63rd Drive, these eateries in Rego Park offer locals and visitors alike a place to relax amidst a day of sightseeing and shopping.



Rego Park also boasts the largest mall in queens with 950,000 square feet, opening full-scale stores like a 145,000 square feet Costco and a 135,000 square feet Century 21. With storefront retail surrounding the area, this mall has nationally recognized brands and is situated where the LIE crosses Queens Boulevard. A block away to the north, the Queens Place mall hosts 440,000 square feet of space with anchor stores like Target, DSW Shoes, and Macy’s.



The community is overflowing with options for cultural and outdoor activities. The Rego Park branch of Queens Public Library on 63rd Drive has plans to grow from its existing 7,500 square feet single-story to an 18,000 square feet two-story between 2021 and 2024. Flushing Meadows Park and Forest Park in the vicinity, spanning 897 and 538 acres respectively. They serve as a perfect venue for annual concerts, hiking and riding events, museums, zoological gardens, beautiful lakes and a golf course. Other area attractions include New York Hall of Science and Billy Jean King Tennis Center (the site of the U.S. open).

Last Updated Date: 09 Oct 2020
Guthrie Garvin
Guthrie Garvin
Managing Director, Capital Markets
License details
NY-30GA1030860
Brendan Maddigan
Brendan Maddigan
Vice Chairman, Capital Markets
License details
NY-10301206472

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Last Updated Date: 09 Oct 2020

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