Feb, 1, 2016 Staff Report
A two-story building located at 37-02 Queens Blvd. is about to undergo a growth spurt.
The property, which was once occupied by the Queens Furniture Outlet, will be getting three additional floors that will be used for office space.
David Yoo, who bought the property for $8.45 million in July 2014, said that he has been overhauling the property for the past nine months and anticipates that it will take another six months before the building is five stories and ready to lease.
“The building was old and ugly, and a horrible color, so I decided to renovate [and expand] it,” Yoo said.
He said the furniture store had struggled to survive and closed before he purchased the property.
Yoo said he plans to lease to recruit retail and office tenants. He said it would also be an ideal location for a medical facility.
He said that many companies are looking outside of Manhattan for office space and given the building’s proximity to the 7 train it will be in demand.