Kalmon Dolgin Affiliates (KDA) has arranged the $16.5 million sale of a 70,000-SF, three-story industrial property at 74-16 Grand Avenue in the Queens neighborhood of Elmhurst, NY. Kalmon Dolgin and Neil Dolgin, co-presidents of Kalmon Dolgin Affiliates, made the announcement.
KDA’s Neil Dolgin and Vice President Grant Dolgin negotiated on behalf of the seller, Monitor Holding Corp., and the buyer, 74-16 Grand Ave, LLC.
The buyer plans to redevelop the property to take advantage of its great location and increasing value of surrounding properties. The building formerly housed several tenants that used the space for warehousing and distribution.
“This large industrial property at 74-16 Grand Avenue presented a unique opportunity for the buyer,” said Neil Dolgin of KDA. “Its excellent location near the Long Island Expressway provides great exposure and offers easy access to and from Eastern Long Island, Brooklyn and Manhattan.”
The building on Grand Street (at 74th Street) offers proximity to the LIE and major thoroughfare Queens Boulevard. Transportation options include the Q47, Q58 and Q59 bus routes and the E, M and R subway lines. The close-knit, well-populated community also features an assortment of shops, restaurants and neighborhood businesses.
Founded in 1904, Kalmon Dolgin Affiliates offers over a century’s worth of experience in the management, sale, leasing and marketing of commercial and industrial property throughout the New York Metropolitan region. In addition to its staff of 35 brokers, Kalmon Dolgin Affiliates, through its subsidiary, KND Management Co., Inc., operates a portfolio of over six million square feet of industrial, office, medical and retail space in ten states. Their highly-trained professionals offer a practical, street-wise approach to real estate, supported by the latest in real estate management and research technology and four generations of unparalleled expertise.