Posted Mar 31, 2015, 9:25 PM
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NYC/NJ/Miami-Dade
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Join Date: Jul 2013
Location: Riverview Estates Fairway (PA)
Posts: 45,840
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NEW YORK | 90-75 Sutphin Boulevard | FT | FLOORS
Future highrise:
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Project: 90-75 Sutphin Boulevard
Current Site:
Quote:
Flushing, Queens-based Ampiera Group has purchased a vacant Jamaica, Queens commercial building from Arbern Sutphin Properties for $14 million, Marcus & Millichap told Commercial Observer. The deal closed last Tuesday.
Ampiera Group’s plans appear to call for a complete renovation and redevelopment of the property into a hotel, Mr. Plasky said. The company also bought 75,000 square feet of air rights a few months ago, allowing Ampiera Group to build a 155,000-square-foot building as-of-right. Titan Capital ID financed $10 million of the total $17.5 million purchase price of the property including the air rights, said Daniel Nadri of Titan. Ampiera Group wasn’t immediately reachable for comment.
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http://commercialobserver.com/2015/0...lding-for-14m/
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