15916 Union Tpke
Fresh Meadows, NY 11366

The subject is a 16 unit newly built retail anchored office building in Fresh Meadows, Queens with 4 retail units and 12 office units. It is currently fully leased with rents more than 50% below market posing tremendous upside in income; most leases were signed during the downturn market of 2008-20010. Majority of the existing leases are the original leases and now coming due, or are month to month providing for an excellent opportunity to reposition and release to current market rents at approximately $50/SF for retail and $35/SF for office space in this immediate area. It is located on the southwest corner of Union Turnpike and 160 Street. It is conveniently located in proximity to the Grand Central Parkway, Van Wyck Expressway, and Long Island Expressway, and is accessible by multiple bus lines along Union Turnpike, Parsons Boulevard, and 164 Street. This property poses a rare opportunity for a large office investment property in one of the most highly desirable areas in Queens.