Isaac Chera’s Crown Acquisitions made a major play in Flushing, signing a 99-year ground lease for a large retail building right in the heart of the neighborhood’s central shopping district.
Chera will take over the management of the four-story, 225, 000-square-foot property at 136-50 Roosevelt Avenue after striking the deal with long-term owner, Benider Co.
Please help us out :
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at office@jewishbusinessnews.com.
Thank you.
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at office@jewishbusinessnews.com.
Thank you.
Macy’s lease at the building expires soon, Chera told the Wall Street Journal. He may be seeking to strike a deal with the retailer to redevelop the property and bring in new tenants, Tim King of CPEX Real Estate, who wasn’t involved in the deal, told the Journal.
Read the full story at The Real Deal, by
