Cushman & Wakefield announced today that it represented The Criterion Group in the sale of a 144-unit, two building residential portfolio in Astoria, Queens for $60.25 million.
Located at 30-50 21st Street and 11-15 Broadway, the portfolio is located in a growing neighborhood that has become one of the most desirable in New York City. Both buildings feature high-end in-unit finishes and top-rate amenities, 24-hour attended lobby, on-site parking and fitness center, and roof deck access offering breathtaking Manhattan skyline views. The properties are also located within walking distance from major subway lines, offering a 15 minute ride to Midtown Manhattan.
A Cushman & Wakefield New York Capital Markets team of Helen Hwang, Nat Rockett, Karen Wiedenmann, Brian Szczapa and Gideon Gil represented Criterion in the transaction.
“Recent activity in the dynamic Astoria market reinforces the strong appeal of well located, high quality borough assets, which will continue to draw widespread investment and institutional focus into these markets.” said Helen Hwang.
The Criterion Group, which is headquartered in Astoria, Queens, has developed more than 660 units in several boutique projects in the Astoria area since its inception in 2003. Criterion has focused its development activity primarily in desirable neighborhoods that allow it to combine an urban setting with a wide array of amenities and transportation conveniences.