Saturday, September 24, 2016

Ciafone looking to flip Sunnyside Theatre

From Sunnyside Post:

...the site that once housed PJ Horgan’s, Dime Bank, a neighborhood dentist and Center Cinemas on 43rd Street and Queens Boulevard is back on the market.

John Ciafone, who bought the property from Dime Bank for $6.65 million in December 2012 has put it on the market for $19 million.

Ciafone originally said he would develop the site and construct a 5-7 story building with about 60-70 apartments and ground floor retail.

At the time he notified the owner of Center Cinemas and the dentist that he would not renew their lease. He also told PJ Horgan’s he wanted them to leave too.


Anonymous said...

Why doesn't Van Bramer put the school he wants to put in Sunnyside Gardens THERE!

We are tired of his stunts behind the community's back - we don't trust that man at all!

Sunnyside needs a real civic that is not one of his puppets!

JQ LLC said...

That shitty corner is worth 6.6 million? This market is fucking mental. Wanna bet that corner is going to remain vacant and blighted for years?

It looks like it's going to a need a bigger canopy.

Jerry Rotondi said...

Why go through the expenses and headaches of building if you can just flip for more than you paid.
RKO Keith's Flushing theater was purchased for 3.4 million dollars in 1986.
Current price....60 MILLION BUCKS!
Quite a history.....wouldn't you say?

When I was a kid, we used to flip for baseball cards.
My friend amassed a fortune of them.
Same principle here.

Does money get laundered between flips of property?
Ask the property pimps....better known as real estate agents.

Anonymous said...

Jimmy Van Bramer, the developers' friend, until the crap reaches his back door.
Then he screams "NIMBY" in his signature whining voice.