Tuesday, September 13, 2011
Korea Village in foreclosure sale
Marcus & Millichap Real Estate Investment Services and ERG Property Advisors have been retained to market Korea Village, a 76,000-square-foot shopping center at 150-24 Northern Boulevard in Flushing for a foreclosure auction. A $14 million first mortgage on the property from Intervest National Bank will be up for grabs at a foreclosure sale on Friday, September 16 at the Queens County Supreme Court House at 88-11 Sutphin Boulevard, Jamaica, NY, room 25.
Adelaide Polsinelli, associate vice president at Marcus & Millichap Real Estate Investment Services, tells GlobeSt.com that the newly-constructed three-story mixed-use property is valued around mid-$30 million mark. “The space is amazing,” she says, noting that the building was constructed in 2006. “You have a caterer on the top floor that does very good business. It is a very vibrant retail center. You are in the heart of the Korean market.”
Was this Norman Hsu's property? Notice the Bill Clinton banner on the side of the building.