New York, NY – The final closing price was $2.3 million equating to $423 per square foot.
Cushman & Wakefield Stephen R. Preuss and Kevin Schmitz represented the owner, 223 Merrick Corp., in the transaction. The property was purchased by the Mandel Family.
“222-16 Merrick Boulevard presented an attractive investment option in the growing neighborhood of Jamaica,” said Stephen R. Preuss of Cushman & Wakefield. “As the area to continues to grow, the fully-leased property presented a unique opportunity for an investment.”
The property is located on the southwest corner of Merrick Boulevard and 223rd Street. The building was renovated in 2009 and features approximately a hundred feet of frontage on Merrick Boulevard and 223rd street. The 5,440-square-foot property operates as a home furnishings store, barbershop, beauty supply store, nail salon and hair salon.
222-16 Merrick Boulevard is located in proximity to multiple major roadways including Springfield Boulevard and the Belt Parkway, which allows easy access to the Cross Island and Southern State Parkways. Just outside the property is the Q5 bus line, and the Laurelton LIRR station is located less than one mile south.About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 51,000 employees in 400 offices and 70 countries. In 2018, the firm had revenue of $8.2 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.