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BK Real Estate Advisors (BKREA), led by Chairman and CEO Bob Knakal and Associate Seth Samowitz, successfully represented Alexander's, Inc. in the $235.5 million sale of 96-05 Queens Boulevard in Rego Park, Queens to Northwell Health. The transaction ranks among the most significant New York City development site sales of 2026.
The property consists of a major development site encompassing approximately 1.23 million buildable square feet. Northwell Health acquired the asset as part of its continued expansion strategy, while Alexander's monetized a long-held real estate position through a highly strategic disposition process.
The sale closed at $235.5 million, representing a major investment in Queens and demonstrating continued institutional demand for large-scale development opportunities throughout New York City.
BKREA advised Alexander's, Inc. throughout the disposition process, leveraging extensive market intelligence, buyer relationships, and transaction expertise to position the asset effectively within the marketplace.
The acquisition reflects Northwell Health's long-term commitment to expanding its footprint across New York and investing in strategically located sites capable of supporting future growth initiatives.
Located on Queens Boulevard in Rego Park, the property benefits from exceptional visibility, transportation access, and proximity to one of Queens' most densely populated residential corridors. The transaction reinforces investor confidence in the borough's long-term growth prospects.
The transaction was led by Bob Knakal and Seth Samowitz of BKREA on behalf of seller Alexander's, Inc., with Northwell Health represented by John D'Angelo in the acquisition.
Despite evolving market conditions, institutional buyers remain highly focused on irreplaceable development opportunities that offer long-term strategic value and future redevelopment potential.
Large-scale development site transactions are often viewed as a leading indicator of long-term confidence in New York City's growth trajectory.
The sale of 96-05 Queens Boulevard demonstrates that well-located, strategically significant properties continue to attract substantial institutional capital, particularly when supported by strong fundamentals and future development potential.
BK Real Estate Advisors (BKREA) is a New York City-based investment sales and advisory firm specializing in development sites, investment properties, market intelligence, and seller representation. Through data-driven advisory services and deep market expertise, BKREA helps property owners maximize asset value and execute complex transactions.
The transaction involved 96-05 Queens Boulevard, a major development site located in Rego Park, Queens.
The property was sold for $235.5 million.
BKREA's Bob Knakal and Seth Samowitz represented Alexander's, Inc. in the transaction.
Northwell Health, represented by John D'Angelo, acquired the property.
The property contains approximately 1,228,800 buildable square feet.
The sale represents one of the largest development site transactions in New York City during 2026 and highlights continued institutional demand for large-scale development opportunities.
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