Tuesday, September 13, 2011

Korea Village in foreclosure sale

From GlobeSt.com:

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.


Anonymous said...

is not connecting the dots of the devious democrat /liberal criminal acts against the little people grand ?

what did Sandy Berger stuff down his pants and destroy at the Clinton library archives ?

Anonymous said...

I live nearby.

It's been a "bust" for years.

I don't see any "vibrant" business being done there.

That's just the usual sales agent hype that's been foisted upon unwary would be buyers for decades.

"Vibrant & bustling"!

In fact there's a large turnover of Korean businesses in the area.

One particular restaurant site has had at least 6 owners in an 8 year period.

The whole area is actually losing Korean residents.

Anonymous said...

There was an event, back in the day, held at the Sheraton La Guardia East Hotel in downtown Flushing....during which a political pundit (fundraiser?) had told the audience present that.... "Money is the mother's milk of politics".

Was this Norman Hsu?

No doubt, Ackerman knows him well.

Gary was also practically blood brothers with that notorious criminal, Tommy Huang back then.

That trip to Taiwan (arranged by Huang?) that Ackerman took was for what purpose?

And, of course, NYC Comptroller John Liu is Huang's cousin.

What a tidy little daisy chain.

Congressman Gary's chief of staff was Alan Gershuny....a close associate of the corrupt Donald Manes.

A lot of these bad apples are still around rotting the rest of the barrel.

Anonymous said...

Brilliant marketing. Identify yourself as catering to only just a single minority group and then piss them off. Yeah that works.

Anonymous said...

The Asian businesses go down because they cater to their own people and not the diversity of the community. I don't mean just White, but Black, Hispanic, Indian/Paki and in some cases, other E. Asian groups.

Signs with barely any English, the inability or refusal to speak good English to the first time customer, and the ultra-conservative insularity of the culture will keep everyone else away and the businesses will continue to fail.

Good riddance.

Anonymous said...

Norman Hsu actually is serving a 24 year sentence in Federal prison, for embezzling millions from a business owned by former 60"s "WOODSTOCK" rock show promoters. and "bundling" for democrat elections.

He donated millions to over a hundred U.S. and State democrat candidates from 2004-2009. including H.R.C.,OBAMA and J. liu. they all claim that they gave the money to charity ???? Where is the F.O.I. proof of this ?

see wikipedia: norman hsu

Anonymous said...

Bring back the Amber Lantern!

Built in 2006? They did some renovations then, but the building was standing before that (I lived across the street until 2004.)

Anonymous said...

Korean businesses in that area aren't really doing that well....except for some restaurants.

A new mall opened recently to the right of Flushing Savings Bank near the old Quartet Theater.

Usually you see only a few customers inside and they are already offering "up to 70% off" on merchandise.

Another store offering "stone beds"across the street from St. Andrew's Church has sublet some of their floorspace to a "Korean Antiques" business.

Most of their pieces are modern overpriced Chinese copies that can be bought in Chinatown for 1/4 of the prices than this rip-off place is asking.

Anonymous said...

With a little redesigning,
it looks like it would make a great jail for crooked Asian developers like Tommy Huang & Son.

Since Floo-shing is already an Asian colony it really should have its own penal facility for its own kind.

Anonymous said...

Bring back the Tipperary Arms!

Anonymous said...

Netties was neat. Sammy Spears "Blue Note" (band leader for Jackie Gleason ) had the beat.

Lums was the best ,while dining there, my six year old son told us he wanted to be a chinese waiter, when he grew up ? we are caucasian..... Ruthas had great Italian cuisine. i do not think Jimmy ever smoked his cigar.

Murray always had decent clothing prices in the beginning.

the R.K.O. Keiths was magnificent and majestic.

Anonymous said...

A new mall opened recently to the right of Flushing Savings Bank near the old Quartet Theater.

What new mall? I live there and I don't see any new big mall!