Commercial Building in Flushing Trades for a Whopping $6.8 Million

136-76-39-Ave-Flushing-0813
A two-story commercial building at 136-76 39th Avenue in Flushing sold for $6,800,000 last month, a price that strikes us as quite high given the total existing square footage of 7,600. (That’s almost $900 a foot for those of you keeping score at home.) There’s some unused FAR which brings the total buildable square footage of the property to 12,920, but this still looks expensive on that basis too. Then again, the price is in line with the 2011 sale price of $6,350,000 for a similarly sized building next door at 136-82 39th Avenue. What gives? The property is right across the street from the municipal parking lot where the mega Flushing Commons project is set to break ground this fall. GMAP