New York, NY – January 08, 2018 – Cushman & Wakefield announced today that the firm has arranged the sale of 42-31 Bell Boulevard, a retail building in Bayside, Queens. The final closing price was $13.5 million.

A Cushman & Wakefield brokerage team consisting of Vice Chairman James Nelson, Senior Managing Director Stephen Preuss and Senior Associate Carly Weinreb represented the seller, Midwood Investment & Development, in the transaction.

“42-31 Bell Boulevard presented the buyer with an exceptional opportunity to acquire a fully-leased, zero maintenance property,” said James Nelson of Cushman & Wakefield. “The property is located in a prime retail destination in Queens and offers the potential for significant expansion.”

The 10,092-square-foot building is currently split into three, fully-leased units. Bank of America anchors the property and occupies its 5,376-square-foot corner, with a lease through March 2024. The remaining units are occupied by a dog daycare and a restaurant, with leases through October 2019 and April 2024 respectively. The building provides a 20-space parking lot and approximately 22,814-square-feet of air rights that could be used for commercial and residential expansion.

Located on the northeast corner of Bell Boulevard and 43rd Avenue, the property is situated in the heart of Bayside. The property is located on a prime retail strip, with neighboring tenants including Chase, Flushing Bank and Bareburger. Additionally, the building offers easy access to the LIRR and multiple bus stops.

The building was purchased by Hersel Sonobolian.

About Cushman & Wakefield

Cushman & Wakefield is a leading global real estate services firm with 45,000 employees in more than 70 countries helping occupiers and investors optimize the value of their real estate. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $6 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. To learn more, visit or follow @CushWake on Twitter.