The Garage Condominium at - Massey Knakal Realty Services

The Garage 

Condominium at 

132-03 Sanford Avenue 

(a.k.a. 41- 45 College Point Boulevard) 

Flushing, Queens, NY 

ROBERT A. KNAKAL 

CHAIRMAN 

212.696.2500 x7777 

RKNAKAL@MASSEYKNAKAL.COM 

STEPHEN PREUSS 

FIRST VICE PRESIDENT OF SALES 

718.275.3400 x2118 

SPREUSS@MASSEYKNAKAL.COM 

JONATHAN B. HAGEMAN 

SALES TEAM MANAGER 

212.696.2500 x7775 

JHAGEMAN@MASSEKNAKAL.COM 

MASSEY KNAKAL REALTY SERVICES 

275 MADISON AVENUE • 3RD FLOOR 

NEW YORK, NY 10016

This is a confidential brochure intended solely for your limited use and benefit in determining whether you desire to express any 

further interest in the purchase of the garage at 132-03 Sanford Avenue (a.k.a. 41-45 College Point Boulevard), Flushing, 

Queens, NY 11355 (the “Property”). 

This brochure was prepared by Massey Knakal Realty Services, (“Massey Knakal”) and has been reviewed by representatives of 

Ownership. It contains selected information pertaining to the Property and does not purport to be all-inclusive or to contain all of 

the information which prospective purchasers may desire. It should be noted that all financial projections are provided for general 

reference purposes only in that they are based on assumptions relating to the general economy, competition, and other factors 

beyond the control of Massey Knakal or Owner and, therefore, are subject to material variation. Additional information and an 

opportunity to inspect the Property and plans will be made available to interested and qualified investors. Neither Owner, Massey 

Knakal nor any of their respective officers nor employees, have made any representation or warranty, expressed or implied, as to 

the accuracy or completeness of this brochure or any of its contents, and no legal commitments or obligations shall arise by reason 

of this brochure or any of its contents. All square footage measurements must be independently verified. 

Owner expressly reserves the right, at its sole discretion, to reject any or all expressions of interest or offers to purchase the Property 

and/or to terminate discussions with any entity at any time with or without notice. Owner shall have no legal commitment or 

obligation to any entity reviewing this brochure or making an offer to purchase the Property unless and until a written agreement 

satisfactory to Owner has been fully executed, delivered, and approved by Owner and any conditions to Owner obligations 

thereunder have been satisfied or waived. 

By receipt of this brochure, you agree that this brochure and its contents are of a confidential nature, that you hold and treat it in the 

strictest confidence, and that you will not disclose this brochure or any of its contents to any other entity without the prior written 

authorization of Owner nor will you use this brochure or any of its contents in any fashion or manner detrimental to the interest of 

Owner or Massey Knakal. 

It is essential that all parties to real estate transactions be aware of the health, liability and economic impact of environmental 

factors on real estate. Massey Knakal does not conduct investigations or analysis of environmental matters and, accordingly, urges 

its clients to retain qualified environmental professionals to determine whether hazardous or toxic wastes or substances (such as 

asbestos, PCB’s and other contaminants or petrochemical products stored in underground tanks) or other undesirable materials or 

conditions, are present at the Property and, if so, whether any health danger or other liability exists. Such substances may have been 

used in the construction or operation of buildings or may be present as a result of previous activities at the Property. 

Various laws and regulations have been enacted at the federal, state and local levels dealing with the use, storage, handling, 

removal, transport and disposal of toxic or hazardous wastes and substances. Depending upon past, current and proposed uses of 

the Property, it may be prudent to retain an environmental expert to conduct a site investigation and/or building inspection. If such 

substances exist or are contemplated to be used at the Property, special governmental approvals or permits may be required. In 

addition, the cost of removal and disposal of such materials may be substantial. Consequently, legal counsel and technical experts 

should be consulted where these substances are or may be present. 

While this brochure contains physical description information, there are no references to condition. Neither Owner nor Massey 

Knakal make any representation as to the physical condition of the Property. Prospective purchasers should conduct their own 

independent engineering report to verify property condition. 

In this brochure, certain documents, including leases and other materials, are described in summary form. The summaries do not 

purport to be complete nor, necessarily, accurate descriptions of the full agreements involved, nor do they purport to constitute a 

legal analysis of the provisions of the documents. Interested parties are expected to review independently all relevant documents. 

The terms and conditions stated in this section will relate to all of the sections of the brochure as if stated independently therein. 

If, after reviewing this brochure, you have no further interest in purchasing the Property at this time, kindly return this brochure to 

Massey Knakal at your earliest possible convenience. Photocopying or other duplication is not authorized. This brochure shall not 

be deemed an indication of the state of affairs of Owner, nor constitute an indication that there has been no change in the business 

or affairs of Owner since the date of preparation of this brochure. 

All zoning information, including but not limited to, use and buildable footage must be independently verified.

132-03 SANFORD AVENUE 

TABLE OF CONTENTS 

I EXECUTIVE SUMMARY 

II FLOOR PLANS 

III DUE DILIGENCE 

IV PROPERTY PHOTOGRAPHS 

V NEIGHBORHOOD DESCRIPTION 10 

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Sanford Ave. Entrance 

Building Photo 

INTRODUCTION 

Massey Knakal Realty Services has been 

retained on an exclusive basis to arrange for 

the sale of 132-03 Sanford Avenue (a.k.a. 41-45 

College Point Boulevard), a below-grade parking 

garage totalling 25,273 square feet, in Flushing, 

Queens, NY. The garage is located in The 

Regency Plaza Condominiums, on the corner of 

Sanford Avenue and College Point Boulevard. 

PROPERTY DESCRIPTION 

The subject property is a 2-level garage 

condominium below a fifty-six (56) unit 

condominium building (including the retail units 

on the ground floor). The condominium is in 

an ideal location, just blocks from Downtown 

Flushing, Flushing Hospital, and the 1 million+ 

square foot Sky View Parc Development, which is 

currently being constructed. The garage occupies 

the cellar and sub-cellar (connected by ramp) 

of the property and features 105 legal parking 

spaces as well as two street level entrances, 

one on Sanford Avenue and the other on College 

Point Boulevard. 

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EXECUTIVE SUMMARY V 

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EXECUTIVE SUMMARY V 

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PROPERTY SNAPSHOT 

Location: Northeast corner of Sanford Avenue and College Point Boulevard. 

Block / Lot: 5040 / 1001 

Legal Spaces (LS): 105 

Levels: Cellar: 12,803 SF (Approx.) 

Zoning / FAR: R6 / 2.43 

THE PROCESS 

ASKING PRICE: $3,800,000 

Inspection tours of the site will be made by appointment only. Please do not attempt to inspect the 

buildings independently. For additional information, please contact Exclusive Agents: 

ROBERT A. KNAKAL 

CHAIRMAN 

212.696.2500 x7777 

RKNAKAL@MASSEYKNAKAL.COM 

JONATHAN B. HAGEMAN 

SALES TEAM MANAGER 

212.696.2500 x7773 

JHAGEMAN@MASSEYKNAKAL.COM 

Subcellar: 12,470 SF (Approx.) 

TOTAL: 25,273 SF (Approx.) 

Lot Size: 111’ x 164’ (Approx., Irreg.) 

Assessment (08/09): $12,695 (Approx.) 

Taxes (08/09): $1,347 (Approx.) 

25-Year 421a Tax Assessment 

STEPHEN PREUSS 

FIRST VICE PRESIDENT OF SALES 

718.275.3400 x2118 

SPREUSS@MASSEYKNAKAL.COM 

KEVIN GLEASON 

ASSOCIATE 

212.696.2500 x7750 

KGLEASON@MASSEYKNAKAL.COM 

2 132-03 SANFORD AVENUE

SUBCELLAR 

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FLOOR PLANS 

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FLOOR PLANS 

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CELLAR 


CERtIFICAtE OF OCCUPANCy 

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DUE DILIGENCE 

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DUE DILIGENCE 

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DUE DILIGENCE 

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PROPERTY PHOTOGRAPHS 

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Condominium Exterior 

Sanford Ave. Entrance College Point Blvd. Entrance 

Rates Board 

Condominium Entrance 

Parking Spaces 

Elevators Cellar to Subcellar Ramp 


Ramp 

Elevators Exit Ramp 

Exit Ramp 



Office View from Garage of College Point Blvd. 

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PROPERTY PHOTOGRAPHS 

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NEIGHBORHOOD DESCRIPTION 

NEIGHBORHOOD BOUNDARY 

Flushing is a northern-central neighborhood within the borough of Queens. Its boundary is generally 

defined as north on Elder Avenue, south on Northern Boulevard, east on 114th Street, and west on 

158th Street. 

FLUShINg hIStORy 

The neighborhood core is the largest urban 

center in the borough, and it is the wealthiest and 

the largest Chinatown in New York City. Until the 

1970s, Flushing was mostly an Italian and Greek 

neighborhood. Since the economic blight of the 

1970s, Flushing has changed dramatically. The 

neighborhood is now home to a vibrant middle 

class and blue-collar community. Increasingly 

prosperous Chinese and Korean communities 

have grown to be the dominant groups. Flushing 

has a rich history of tolerance and diversity. 

In 2000, 58.5% of Flushing’s population was 

foreign-born – well above Queens and New York 

City’s averages. 

ECONOMY 

Downtown Flushing, a transportation hub, is now the busiest 

shopping district in Queens, with several large mixed-use real 

estate development planned. The downtown sidewalks pulse with 

people of all nationalities but predominantly East Asians. Signs in 

Chinese are at least as prominent as those in English. The Flushing 

Chinatown is a real American fusion. 

Flushing Main Street puts most Main Streets to shame with its range 

of shops from established brand stores such as Macy’s, Old Navy, 

Payless Shoes and Benetton Outlet to the tiniest neighborhood 

herbalists, from Starbucks to bubble tea cafes, from burgers to 

dumpling stands. The stores further south on Main Street cater 

to South Asians: the Pakistanis, Indians, Sikhs, and Afghans. 

Northern Boulevard also bustles, but with less foot traffic. It’s an 

extended Koreatown strip that stretches east through Bayside and 

into Nassau County. 

Flushing is known for its selection of authentic, reasonably priced 

ethnic restaurants. A popular Asian restaurant district is centered 

at the intersection of Prince Street and Roosevelt Avenue. Latin 

cuisine can be found on College Point Boulevard near Sanford 

Avenue. 

The crime rate in Flushing has dropped significantly since the 

1990s, mirroring the city-wide decrease in crime. 


thE FUtURE FLUShINg 

Flushing has seen a significant increase in development in recent 

years, transforming the neighborhood into a commercial center. 

Recently, the 407,000 sqf Queens Crossing was close to completion 

in the new epic-center of Downtown Flushing. Not far, Queens 

Botanical Garden Visitor & Administration Building opened to a 

grand fanfare as the first LEED Certified public building in NYC. 

Sky Parc Center (3.2 million sqf) – 800,00 sqf retail anchored by 

Target, Home Depot, Best Buy, Staples, Bed Bath & Beyond, and 

Marshall’s and 1,100 residential units (current) 

Extension of #7 Subway costing $2.1 billion will make it possible 

for a non-transfer trip from Main Street Flushing to Manhattan’s far 

West Side (current) 

Flushing’s historic RKO Keith’s Theater is a new 17-story building 

with 200 residential units. The theatre’s grand lobby will be 

preserved (planned) 

Flushing Commons (1.9 million sqf) will cost $411 million – 2,000 

car parking, 50,000 sqf recreational center, 200-room hotel, 500 

residential units, 350,000 sqf retail, 20,000 sqf community/cultural 

space, and 15,000 sqf small professional space (planned) 

Flushing Waterfront – the City adopted the Waterfront Access 

Plan for the Flushing River in 1998. The development of the 

esplanade includes new walkways, sitting areas and bicycle paths 

(planned) 

Queens College Residential Complex – A $63 million plan for 450 

to 550 students to live in the dorm and also include added parking 

spaces for up to 200 cars (planned). 

Willets Point Redevelopment Initiative – A $3 billion project to remake a 75-acre site at Willets 

Point, Queens, along the Flushing River just east of Shea Stadium with mixed-use development 

totaling about 1 million sqf of retail space,a hotel, and a convention center (planned) 

Strong residential demographics, the echo boomers, new immigrants and retiring baby boomers 

will generate residential demand in Flushing. Flushing is one of the areas of Queens with large 

immigrant populations which are showing signs of growth that far outpace the city’s overall growth 

rate. New residential projects are built to meet this grwoing demand. 

MAJOR CURRENT RESIDENTIAL DEVELOPMENTS 

Sky Parc View (1,100 units) – This is the next phase to Sky Parc Center which is completing in 

2009 with a 800,00 sqf retail anchored by Target, Home Depot, Best Buy, Staples, Bed Bath & 

Beyond, and Marshall’s. 

Unnamed residential building on 41st Road (52 units) – A 133,9928 sqf, 14-story building currently 

under construction. 

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The Parsons Condo (40 units) – A 54,807 sqf, 7-story 

apartment building which began marketing in Aug 2007. 

Unnamed residential building on 38th Avenue (23 units) – A 

64,277 sqf, 11-story building currently under construction. 

The Capital (28 units) – A 62,000 sqf, 7-story building. 

Unnamed residential building on 41st Avenue (25 units) – A 

26,300 sqf, 8-story building. 

Unnamed residential builidng on Barclay Avenue (23 units) – A 28,500 sqf, 7- story building 

currently under construction. 

Parsons Point Condo (20 units) – A 34,028 sqf, 6-story building currently under construction. 

PARKS, OPEN SPACES AND ATTRACTIONS 

Bowne House (37-01 Bowne St) 

Bowne Park (29th Ave and 155th St) 

Flushing Cemetry – resting place of Louis Armstrong, Dr. 

Adman Clayton Powell, Sr, etc. (163-06 46th Avenue) 

Flushing Town Hall (137-35 Northern Boulevard) 

Flushing Meadows-Corona Park (Unisphere, site of 1939 

and 1964 New York City World’s Fair) 

Flushing Quaker Meeting House (137-16 Northern Blvd) 

Kingsland Homestead, now home of the Queens Historical Society (143-35 37th Ave) 

Kissena Park – lake, tennis courts, golf course, etc. (Oak 

and Rose Aves) 

New York Hall of Science (47-01 111th Street) 

USTA National Tennis Center (Flushing Meadow-Corona 

Park) 

CitiField – the new ballpark for the New York Mets 

Queens Borough Public Library – Flushing (41-17 Main 

Street) 

Queens Botanical Garden (43-50 Main Street) 

Queen Museum of Arts (Flushing Meadow-Corona Park) 

Queens Theatre in the Park (Flushing Meadow-Corona 

Park) 

Queens College of the City University of New York (6530 

Kissena Blvd) 

Queens Zoo (53-51 111th Street, Flushing Meadows- 

Corona Park) 


FLUShINg POtENtIAL 

Flushing has the largest Chinese community in NYC 

In 2000, 58.5% of Flushing population was foreign-born (c.f. 

35.9% citywide) 

New immigrants in Flushing comes from more than 86 

countries 

The Downtown Flushing Transit Hub Business Improvement 

District was formed in 2003 

Each day, more than 50,000 commuters transfer between the 

Long Island Rail Road, Flushing Main Street subway line and 

public and private buses 

Between 1994 and 2004, the number of businesses grew by 

54.6% in Flushing (c.f. 9.6% citywide) 

Between 1994 and 2004, job growth in Flushing was 12.1% 

(c.f. 6.9% citywide) 

The total wages paid in Flushing grew at a faster rate than citywide, increased by 8% 

About $1.2 billion in wages were paid in Flushing in 2004 

In 2004, the average salary in Flushing reached $35,264 – a 3.4% increase from 2003 

Many immigrant-owned businesses in NYC continued to create jobs even during the slow-down in 

the economy after September 11. Totals jobs in Flushing-Murray Hill area increased by 16.2% (c.f. 

declined of 1.9% citywide) 

Downtown Flushing boasts more than 800 businesses including at least 30 banks 

As of June 2006, its banks and financial services held more than $3.7 trillion in assets 

Chinatown private transportation companies charge inexpensive fares to transport passengers 

throughout the Northeast corridor. The buses and vans transport workers to jobs at casinos in 

Connecticut and warehouses in Northern New Jersey, among many other destinations 

INtEREStINg FLUShINg FACtS 

The 1939 New York World’s Fair was held in Flushing Meadows-Corona Park, the New York City 

Pavilion from that event now houses the Queens Museum of Art. The building was temporarily the 

home of the United Nations and is where the State of Israel was voted into existence in 1947. 

The rock band KISS first played at the Coventry Club on Queens Boulevard in 1973, and is said to 

have derived its name from “Kissena,” one of Flushing’s major streets. 

North Flushing, the area nearest to Bayside and Whitestone is an area of single family homes near 

Bowne Park, many of which are quite exquisite. This area is located between 29th Avenue and 35th 

Avenue, and 155th and 164th Streets. It has recently been granted landmark status. 

Flushing’s Waldheim area is known for its beautiful, individually crafted homes. Its 110 original 

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TRANSPORTATION 

houses made up Queens’ first estate subdivision. 

The disk-topped towers of Philip Johnson’s New York State 

Pavilion from the 1964-65 fair were featured in the movie 

Men In Black as the “spaceship” in which the alien attempted 

to escape. 

Although the Chippewa Native Americans were not from the 

northeast, Samuel Parsons used their word for the phrase “it 

is cold” (Kissena) to name the large lake on his land. When 

the park was dedicated in 1908, it took the name as well, as 

did Kissena Boulevard (which was, until that point, named 

Jamaica Avenue). 

A continuous string of parks runs through Flushing. Much 

of the land remained undeveloped due to its use as railroad 

right-of-way. A raised nature trail running through Kissena 

Park was originally the railroad bed of The A.T. Stewart Line 

(later renamed the “White Line,” and then the Creedmore 

branch of the Long Island Rail Road) to Garden City. 

Flushing is a central transportation hub with major air, rail, 

bus and highway links located within a half-mile (800 m) 

radius of its downtown. 

The New York City #7 subway serves downtown Flushing with its terminal station on Flushing Main 

Street and Roosevelt Avenue. The Long Island Rail Road (LIRR) train on the Port Washington 

line stops one block away on Main Street. Flushing is a 25-minute rush hour commute on the #7 

subway to Grand Central Station, and a 17-minute on LIRR to Penn Station. 

Over a dozen local bus routes serve Flushing with destinations in Nassau County by MTA Long 

Island Bus, the Bronx by MTA Bus, and Jamaica and other Queens neighborhoods by MTA New 

York City Transit buses. Buses serving Flushing are Q13, Q14, Q16, Q17, Q20A, Q20B, Q25, Q34, 

Q44, Q58, Q65, Q66, and QBx1. The x51 runs express to midtown. MTA Long Island Buses serving 

this neighborhood are N20 and N21. Private buses runs frequently from Flushing (56-12 134th 

Street) to Manhattan’s and Brooklyn’s Chinatowns. 

It is fairly easy to drive to Flushing. Northern Boulevard, Roosevelt Avenue and Main Street are 

the three most prominent thoroughfares. Drivers could exit the Whitestone Expressway (I-678/Van 

Wyck) at Northern Boulevard or exit the Long Island Expressway (I-495) at Main Street. 

There are four Flushing Municipal Parking Fields - 37th Avenue and Union Street (1,101 spaces); 

38th Avenue/39th Avenue, West of Main Street (89 spaces); next to the LIRR station at 41 Avenue, 

West of Main Street (157 spaces); and beneath Northern Boulevard viaduct on the east side of 

College Point Boulevard (93 spaces). There are also several private parking lots, like the one 

across from the Flushing Mall at Prince and 39th Avenue. 

On a weekday you might find a spot on the side streets around the Flushing Mall. The farther you 

go toward College Point Boulevard (west of Main), the more likely you will find street parking. 

Residential streets like those east of Union tend to have parking restrictions. 

LaGuardia Airport is located 10-minutes away by car or bus. JFK International Airport is 25-minutes 

away. 


STREET MAP 

132-03 Sanford Ave 

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SUBWAY MAP 



BUS MAP 


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