You are reading

Queens Plaza South Building Sells for $40 Million

24-02 Queens Plaza South (Google)

Sept. 24, 2020 Staff Report

A giant private equity firm has bought a building located in Queens Plaza for $40 million.

The Carlyle Group—along with Botantic Properties– has purchase 24-02 Queens Plaza South from Atlas Capital, according to city records. The three story property–built in 1949– is currently occupied by the Apex Technical School.

The $40 million transaction was recorded with the city on Sept. 17.

The site is on the corner of Queens Plaza South and 24th Street and extends all the way back to 42nd Road. The lot is 24,500 square feet.

A 270,000 square foot commercial building is planned to go up on the site once the lease ends, according to reports.

Atlas purchased the site for $13.5 million in 2012. Newmark Knight Frank negotiated the sale.

City Planning

email the author: news@queenspost.com

4 Comments

Click for Comments 
gag

Not surprising. The existing building is pretty low density for a structure that close to Queensboro Plaza.

Reply

Leave a Comment
Reply to this Comment

All comments are subject to moderation before being posted.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Recent News

Lawmakers secure federal funding to combat flooding in Queens after impact of Hurricane Ida and other storms

U.S. Congresswomen Grace Meng and Alexandria Ocasio-Cortez, along with Senate Democratic Leader Chuck Schumer, announced on Jan. 7 that President Joe Biden has signed their legislation into law to address severe flooding in Queens.

The measure aims to mitigate future disasters like those caused by the remnants of Hurricane Ida in September 2021, which inundated the borough with record-shattering rainfall.