Century Development Group has acquired a prime development site at 144-28 Northern Boulevard in Flushing, Queens, for $16,000,000, underscoring continued investor demand for well-located, supply-constrained assets. Delivered fully vacant with substantial frontage, the site offers compelling scale and flexibility within one of Queens’ most active development corridors.
Key Deal Highlights and Strategic Takeaways
Prime Northern Boulevard Location – Situated along one of Queens’ most dynamic commercial corridors, the site benefits from strong visibility, sustained demand, and limited new development supply.
Fully Vacant Development Opportunity – The property was delivered vacant, allowing the buyer immediate control and flexibility for redevelopment without tenant displacement risk.
Attractive Scale and Density – With 14,375 square feet of land and a 69,000 buildable square foot potential, the site supports a wide range of development strategies.
Competitive Pricing Metrics – The transaction achieved a $231 price per buildable square foot and $1,113 per square foot, reflecting strong market confidence in the location and zoning potential.
Significant Street Presence – Featuring 100 feet of frontage, the property offers exceptional exposure and design flexibility along Northern Boulevard.
Experienced Brokerage Representation – The sale was brokered by Robert Knakal and Seth Samowitz of BK Real Estate Advisors, alongside Thomas Donovan, Tommy Lin, and Eugene Kim of Meridian Capital Group, leveraging collaborative expertise to maximize value.
Q1: Why is Northern Boulevard attractive to developers?
Northern Boulevard is a supply-constrained corridor with strong connectivity, visibility, and consistent demand, making it one of Queens’ most sought-after development locations.
Q2: What makes this site particularly valuable?
The combination of full vacancy, significant frontage, and sizable buildable square footage allows for immediate redevelopment and flexible design options.
Q3: How does the pricing compare to similar sites in Queens?
At $231 per buildable square foot, the transaction reflects competitive market pricing for a prime Flushing development site with scale and frontage.
Q4: Who represented the buyer and seller in this transaction?
The transaction was brokered by BK Real Estate Advisors and Meridian Capital Group, bringing together deep local market knowledge and capital markets expertise.
Q5: What does this sale indicate about the Queens development market?
It signals continued confidence from developers in well-located Queens assets, particularly along major corridors with long-term growth potential.
