The housing market may be slumping, but a new listing featuring 10 rent-stabilized buildings in the heart of Flushing has deep-pocketed prospective buyers swarming.
Buyers abuzz over Flushing building boon
After the real estate Web site GlobeSt.com reported last week that Bowne St. Associates LLC was looking to sell its Flushing portfolio for at least $50 million, Manhattan broker Adelaide Polsinelli was bombarded with 400 phone calls in two days...
Yet beyond low rents in the apartment buildings and variety in the portfolio, Polsinelli said the prospective buyers she has spoken with are interested in buying "critical mass" in a neighborhood that is set to boom with the nearby Muss condo megadevelopment and, of course, the city's planned redevelopment of Willets Point - currently a gritty industrial zone.
"You're getting in on the ground floor of a neighborhood that is going to be so vibrant," she said.
Has this chick taken a walk around Flushing recently? Tweeding language by the realtor puts the cherry on top of this real estate spin. Too bad the article fails to mention that these were built illegally and have no C of O. Buyer beware!
The latest on the following future "vibrant" communities:
Crain's gives Atlantic Yards a 50% shot of being built, Hudson Yards 30%, Moynihan Station 25%, and Willets Point 35%. Oh, that pesky housing market...
Photo from Queens Chronicle