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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

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


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