New York Sports Club Acquires Commercial Building at 69-33 Austin Street, Forest Hills for $13.1 Million

Successful Sale of 69-33 Austin Street, Forest Hills, Queens

Bob Knakal and his team successfully closed the sale of 69-33 Austin Street, a prime commercial and retail building in Forest Hills, Queens. The property was sold for $13,100,000 to New York Sports Club, marking a significant transaction for the seller, The Lavin Family. This marks the second time Bob Knakal has worked with the Lavin family to achieve a successful sale.

The sale price of $13,100,000 was the result of Bob's careful market analysis and strong negotiation skills, ensuring the seller received the best possible terms for the property. His expertise led to a favorable deal for all parties involved.

User Building Sales - For the complete list click here User Buildings

Sale Details

The property at 69-33 Austin Street closed on May 10, 2006, with a sale price of $13,100,000. The deal included favorable terms, allowing the seller to benefit from the optimal market conditions. The transaction was finalized with an effective negotiation strategy that secured the best possible outcome.

Sale Price: $13,100,000
Asset Class: Commercial, Retail, User
Property Type: Commercial Building, Retail Space
Sale Date: May 10, 2006
Lot Size: 26,900 SF
Price per SF: $486.99

Property Details

Located in the heart of Forest Hills, 69-33 Austin Street is a commercial and retail space with an expansive 26,900 square feet of usable space. The property features a prominent retail front, ideally suited for businesses like New York Sports Club. This prime location, combined with the building’s impressive layout, attracted significant interest and was an ideal acquisition for the buyer.

Full Address: 69-33 Austin Street, Forest Hills, Queens, NY
Zoning: Commercial, Retail
Building Size: 26,900 SF

Market Strategy and Leverage

For the second sale of 69-33 Austin Street, Bob Knakal relied on his deep understanding of the Forest Hills market to attract the right buyer. By leveraging interest from various commercial entities, including fitness businesses like New York Sports Club, Bob was able to negotiate the optimal sale terms. His strategy ensured the Lavin Family achieved the highest possible return for their valuable property.

Neighborhood Overview

Forest Hills is a vibrant and sought-after neighborhood in Queens, known for its blend of residential and commercial spaces. Key characteristics include:

Strong demand for commercial and retail properties
A well-established residential community
Proximity to key transportation routes, including the LIRR
Home to a range of shops, restaurants, and service-oriented businesses
Close to Flushing Meadows Corona Park and the USTA Billie Jean King National Tennis Center

Conclusion

The sale of 69-33 Austin Street in Forest Hills demonstrates Bob Knakal’s ability to navigate complex commercial transactions with ease. By maintaining strong relationships and staying ahead of market trends, Bob secured the best possible outcome for the Lavin Family, achieving an excellent sale price and favorable terms for the property.