GFI REALTY SERVICES BROKERS $33.16 MILLION SALE OF TWO RETAIL BUILDINGS

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NEW YORK CITY — Michael Kerwin of GFI Realty Services has brokered the $33.16 million sale of 69-37 to 69-39 Austin Street and 107-16 71st in the Forest Hills neighborhood of Queens, New York City. Consisting of two, two-story buildings, the portfolio comprises 42,068 square feet and tenants such as The Gap, Staples and Duane Reade. The properties are in close proximity to other national retailers, including Barnes & Noble and Ann Taylor, as well as to the E and 7 trains and several major bus lines. Kerwin represented the buyer, a Midtown investor, and the seller, a local Forest Hills investor, in the transaction. The sale was a 1031 exchange.

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