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Successful Sale of 109-01 Merrick Boulevard in Jamaica, Queens
Bob Knakal and his team successfully brokered the sale of 109-01 Merrick Boulevard, a sizable multifamily elevator building in the heart of Jamaica, Queens. The property, which spans 118,566 square feet and consists of 133 residential units, was sold for $9,000,000.
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Sale Details
With a strong demand for well-located multifamily assets in Queens, Bob Knakal’s strategic marketing approach ensured the property attracted competitive interest. The sale provided an excellent investment opportunity, given the building’s scale and long-term rental potential.
- Sale Price: $9,000,000
- Property Type: Multifamily - Elevator
- Sale Date: September 27, 2010
- Building Size: 118,566 SF
- Price per SF: $75.91
- Units: 133
Property Details
Located at 109-01 Merrick Boulevard, this elevator building offered a mix of residential units with substantial square footage, making it a valuable long-term asset. Its location in Jamaica, a rapidly developing neighborhood with strong transportation links, added to its appeal among investors.
- Full Address: 109-01 Merrick Boulevard, Queens, NY 11433
- Property Type: Multifamily - Elevator
- Number of Buildings: 1
Market Strategy and Execution
Bob Knakal and his team positioned the property as a prime investment opportunity by showcasing its scale, income potential, and strong location fundamentals. Their marketing efforts ensured the transaction closed at optimal terms for the seller.
Neighborhood Overview
Jamaica, Queens, is known for:
- Strong transportation access, including the Jamaica Center subway hub and the Long Island Rail Road (LIRR).
- A rapidly growing residential market, driven by increasing demand for housing.
- Proximity to key amenities, including shopping centers, parks, and educational institutions.
- A diverse and vibrant community, making it a desirable location for long-term multifamily investments.
Conclusion
The sale of 109-01 Merrick Boulevard demonstrates Bob Knakal’s expertise in marketing large-scale multifamily properties and delivering strong results for clients. By leveraging market demand and strategically positioning the asset, Bob and his team facilitated a successful transaction at competitive pricing.
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