The recently renovated, 16,900 SF office building is occupied by the Social Security Administration

New York, NY –February 12, 2018 – Cushman & Wakefield today announced that the real estate services firm has been retained on an exclusive basis to market a fully-renovated office building for sale, located at 63-44 Austin Street in Rego Park, Queens. The asking price is $8,250,000.

A Cushman & Wakefield team consisting of Vice Chairman Thomas Donovan, Director Tommy Lin, Director Eugene Kim and Associate Director Robert A. Rappa will be leading the marketing efforts on behalf of the property’s seller.

“63-44 Austin Street is a highly accessible, prime office opportunity located in a dense residential neighborhood,” said Thomas Donovan of Cushman & Wakefield. “The property presents an ideal investment or 1031 exchange opportunity.”

The single-story, 16,900-square-foot office building is currently occupied by the Social Security Administration. Recently, the property underwent a $2 million renovation where the tenant is responsible for $1.5 million, and the remaining cost is paid in monthly installments over the remaining 2 years at 7% interest.

Located on the south side of Austin Street, between 63rd Drive and 63rd Avenue, the property is a short walk away from Queens Boulevard, a major thoroughfare, and Rego Center, a shopping mall. The property is in close proximity to numerous bus lines and the M and R subway station. Additionally, it’s easily accessible from the Long Island Expressway, Grand Central Parkway and Woodhaven Boulevard.

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 www.cushmanwakefield.com or follow @CushWake on Twitter.