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Flushing Funeral Home Sells for $13M

Asiatic Hotel Purchases Site for Potential Redevelopment
July 13, 2015
Asiatic Hotel acquired the funeral home at 141-26 Northern Blvd. in Flushing, NY from National Memorial Chapel, Inc. for $13 million, or about $877 per square foot.

The site, totaling four-tenths of an acre in the Northeast Queens submarket of Long Island, is currently improved with a 14,818-square-foot retail structure. The buyer is expected to demolish the existing building, capitalizing on approximately 55,000 buildable square feet there.

John Ciraulo, Craig Waggner, Denise Prevete, Stephen Preuss, and Michael Han with Cushman & Wakefield, Inc. represented the seller, and were the sole brokers in the sale.

Please see CoStar COMPS #3316969 for more information on this transaction.
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