$77.5 Million Non-Performing Office Loan
US - Washington, DC
A$115,413,000 | 28,508 m²
Jones Lang LaSalle (“JLL”) has been retained on an exclusive basis to arrange for the sale of 175-05 Horace Harding Expressway (the “Property”), a 40,707 office building with 49,743 SF of air rights, located between 175th Street Street and 175th Place on Horace Harding Expressway in Fresh Meadows, Queens. The 47,701 square foot property is ICAP eligible, providing buyers with a plethora of tax savings throughout the hold period as well as the opportunity to build up to 90,450 SF.
175-05 Horace Harding Expressway is an office, development or repositioning opportunity in Fresh Meadows, Queens. Currently being utilized as a school, the asset has the ability to offer immediate in-place cash flow as an office with long term development potential.
SUPERIOR CONNECTIVITY & CENTRAL LOCATION
The Property is located right off of the Long Island Expressway, offering a convenient and central location that allows easy access to New York City and Long Island as well as throughout Queens. Other methods of transportation include the Q30 & Q31 Bus lines as well as the highly trafficked Jamaica station which services the LIRR as well as a plethora of subway lines.
EXPANDING FRESH MEADOWS MARKET
Fresh Meadows is a neighborhood in the northeastern section of Queens. Centrally located between New York City and Nassau County, 175-05 Horace Harding provides a highly desirable and large footprint for any developer or investor.