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Investor Acquires Retail Building for $13.5M

Midwood Investments & Development Sells Bayside Asset
January 12, 2018
A local investor acquired the retail building at 42-31 - 42-*41 Bell Blvd. in Bayside, NY for $13.5 million, or about $1,338 per square foot, from Midwood Investment & Development.

The 10,092-square-foot, multi-tenant retail strip delivered in 1995. The three commercial units are fully leased to a Bank of America, a dog daycare and a restaurant. The listing brokers noted that the property could potentially be expanded up to 22,814 square feet.

James Nelson, Stephen Preuss, David Shalom and Carly Weinreb of Cushman & Wakefield represented the seller. The buyer handled the sale in-house.

Please see CoStar COMPS #4084464 for more information on this transaction.
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