Bronstein sells Jackson Heights rental for $12M

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Barry Rudofsky’s Bronstein Properties has sold an 80-unit
Jackson Heights apartment building for $12 million.

Marcus & Millichap brokered the sale of Jackson Heights
80, situated at 35-25 95th Street in Queens, NY, two blocks from the 7-Line
Subway.

Joe Koicim, Peter Von Der Ahe, Dylan Walsh and Shaun Riney represented
the seller and the buyer, Victor Sismanoglou.

“These buildings received immediate interest for their location, competitive pricing, and overall quality of management. We were able to identify a buyer in less than 60 days of marketing and achieve a sale price of less than percent off the asking price,” said Walsh.

The two contiguous four-story walk-up buildings consist of
53 one-bedroom and 27 two-bedroom apartments which have been meticulously
maintained and undergone recent renovations. 

According to public records, Bronstein has owned the
property since 2007, when it picked it up for $8.1 million. This is the second property
the landlord has trimmed from its 5,000 unit portfolio this year. In February,
the company sold 252 74th Street, a 66-unit apartment building in Brooklyn for
$12.9 million.

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