The US bankruptcy court has approved the sale of Barclay Tower, a newly built 23-unit apartment building in Flushing, according to A&G Real Estate Partners.
Sunlight Barclay Tower LLC, a newly formed entity, won the A&G bankruptcy auction, acquiring the seven-story structure for $10.15 million.
The unoccupied seven-story building, which was designed and built to be branded as a condominium, is located at 144-69 Barclay Ave., between Parsons Boulevard and 147and Street.
“With the building initially completed in 2017, the new owners plan to make a significant investment in the property to bring it up to 2022 standards and launch a marketing campaign to sell the individual units,” said Jamie Cotesenior managing director of real estate sales at A&G, based in Melville, New York.
Following the success of the auction, A&G looks forward to seeing Sunlight Barclay Tower LLC execute on its plan to put the well-appointed apartments in this attractive and strategically located building into the hands of motivated buyers, said Jeff HubbardSenior Managing Director of Real Estate Sales at A&G.
“This is a highly desirable area with limited availability of comparable condominium apartments,” Hubbard said.
The Barclay Tower offers a mix of five one-bedroom units, 17 two-bedroom units, and one three-bedroom unit, ranging from 670 square feet to 1,370 square feet. All two-bedroom units include two bathrooms, and all but two units have balconies. All units are complete.
The elevated building includes a virtual doorman as well as a large rooftop outdoor area with stunning views of the surrounding area. The site also includes 17 parking spaces.
The Barclay Tower is located within walking distance of downtown Flushing and two blocks from the Long Island Railroad’s Murray Hill station, offering an approximately 20-minute ride to Manhattan.
The site is also close to attractions such as the Queens Botanical Garden, Queens Zoo and Citi Field, and offers easy access to several major highways.
A&G sold the property under the management of the United States Bankruptcy Court, Eastern District of New York.