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Forest Hills Assets Sell for $33M in 1031 Exchange

GFI Realty Services Brokers Austin & 71st Street Portfolio Deal
By Clayton Constable
November 15, 2007 | 4:54 AM

A private Queens investor sold the 42,068-square-foot retail properties at 6939-6941 Austin St. and 10714-10716 71st St. in Forest Hills, NY, for $33.16 million, or approximately $788 per square foot. Federal Realty Investment Trust handled the investor’s funds. The new owners are also local investors.

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