A building on 110th Street on the College Point waterfront in northern Queens has been picked up in a $16 million sale by Sam Chang of WV Marina Properties. The seven-story, 69,918 sqf mixed use property includes 34 luxury residential units, two floors of commercial office space, 95 parking spaces, and marina rights for up to 50 boat slips. Located on the waterfront, between 14th and 15th Avenues, the property sits at the intersection of the East River and Flushing Bay, across from LaGuardia Airport and Rikers Island. The buyer plans to sell the remaining residential condos and potentially utilize the riparian rights for a marina concept. Cushman & Wakefield represented the seller, 110th Street Commons LLC.
“At approximately $70,000 per sqf and a final asking price of $16 million, this closing represents the largest and highest property sale for the College Point marketplace over the past several years,” said Stephen Preuss, Executive Director of Cushman & Wakefield. “The waterfront was substantially improved by this property, especially with the 25,000 sqf of commercial space helping to fulfill the need for functional and accessible offices in the area. We’re looking forward to seeing how the waterfront will continue to transform.”
