You are reading

Two Woodside Investment Properties Sell For $5.3 Million

Photo: Google Earth

Nov. 6, 2013 By Christian Murray

Two large pieces of commercial real estate in Woodside have sold for $5.275 million.

The properties, located at 50-01 Queens Blvd and 50-18 Roosevelt Avenue, are currently occupied by Boston Market and a laundromat.

Swain Weiner, the president of Greiner Maltz Investment Properties who sold the properties, said the buyer bought the properties in an all-cash deal.

Both properties come with long leases, Weiner said, so it is unlikely that either site has been bought for development purposes.

Weiner is the president of the Sunnyside Chamber of Commerce. Queens Brownstoner first reported the story.

email the author: news@queenspost.com

26 Comments

Click for Comments 
Jackie Jr.

Wasn’t this the same fella that was just putting up signs on properties earlier this year saying properties were for sale when they weren’t? This guy is slippery .

Reply
Dorothy Morehead

I agree. Things have changed a lot here, some good, some bad. But I don’t want to live anywhere else.

Reply
Old Timer

Thanks for the info. But, I still feel as if this town has been sold and most of its charms have vanished. Businesses used to support life on these blocks. Now life on these blocks serve the businesses, it seems.

Reply
Dorothy Morehead

@Angray. I bought the two-story mixed use commercial building next to my office primarily to change the ground floor from a bar to a restaurant. I put in the first kitchen since WWII and opened Bliss, which I sold about a year later. The owner of the successor restaurant stopped paying rent and never paid the water bill. He was evicted owing over $98K. Mike Novak is my friend and neighbor and was angry enough for both of us that not only did the evicted owner leave owing me but opened an Indian restaurant across the street from which he was also evicted. I’m happy that The Dog and Duck is doing well. I no longer own the building.

@Old Timer The traffic initiatives on Queens Boulevard were prompted by several fatal accidents. The goal was to make the “Boulevard of Death” safer. Unfortunately, slowing down traffic on the boulevard has moved it to other streets, especially Skillman Avenue. Captain Hennessey was at the community board meeting last night to address this as well as other issues. Re the re-zoning, it was done by the City Planning Commission in response to community requests and after many studies and public hearings. Prior to the down-zoning, any property could be developed to six stories. This “in-fill” construction was destroying neighborhoods of one- and-two story homes with oversized (for the community) apartment buildings.

Reply
SuperWittySmitty

Who says they’ve slowed the traffic down on Queens Blvd? Besides the fact that it’s always been 30 MPH, I all can see are the fences between the crosswalks under the viaduct. The crossroads are packed with people, waiting for the green, and cars are driving along as if they were on an expressway.

Reply
Old Timer

What sparked the Blvd. of Death campaign? I know lots of people died going back many years. Why then? Since they slowed down traffic on QB my neighborhood is overrun.

And what sparked the rezoning?

Reply
Angray

@Dorothy Morehead – Wasn’t Mike Novak ranting about that restaurant owner screwing you out of tens of thousands in rent? No more commercial property in your holdings anymore?

Reply
Dorothy Morehead

Old timer, the real estate developers had nothing to do with any Boulevard of Death initiative. It was the re-zoning (which down-zoned the side streets to retain their low-scale residential character and up-zoned Queens Boulevard) which made development on the Boulevard more attractive. The price paid for the subject properties is high for Sunnyside but would be low in LIC. As for the current tenants, if the developer wants to build, he/she can offer a buy-out of their leases. It appears they have deep pockets. The developer can also offer favorable leases in the new properties as an inducement to vacate.

For the record, I am a real estate broker but work primarily in residential sales and rentals in Sunnyside Gardens. I have no interest in the subject properties or any other commercial properties. I too would hate to see Boston Market go. It’s a clean place with good, well-priced food that my family patronize.

Reply
Old Timer

This is my second post on the subject, my first didn’t pass muster. I guess I have strong opinions. So I will tone it down.

We were sold down the river with the Boulevard of Death campaign. They did that at the demand of real estate interests who said they wouldn’t develop condos unless traffic on QB was better. We lost our authenticity a long time ago. If you were here before that, the town you knew and loved is long, long, gone.

Reply
Craic Dealer

Swain Weiner will sell Sunnyside’s authenticity for a couple of millions. The guy has a conflict of interest since he OWN’s a relator company.

Reply
rikki

Usually investment properties mean a PROFIT so even at $5 mill after all expenses we is probably making at least 5 times what a bank would pay in interest with the added bonus of a great location to develop…

Not sure is i would want to live there with all the noise, but my LL installed new Andersen windows and the road noise almost disappeared….it was scary at first how quiet it was..

so triple pane windows would probably make it dead quiet.

Reply
Hoove Hearted

“Swain Weiner, the president of Greiner Maltz Investment Properties who sold the properties, ….

Weiner is the president of the Sunnyside Chamber of Commerce. ”

If you dimwits can’t connect these two dots, you deserve to be screwed.

Reply
casket man

U-NEEDA CASKET – cmon it right across from a cemetary! Great caskets at steep discounts – cut out the middle man and buy DIRECT from the people who make em. Home of the original “$89 Special” and the “Eternal Party” box which features live dance music piped in FOR ETERNITY! as we say, “If you’re dead you might as well be livin!”

Reply

Leave a Comment
Reply to this Comment

All comments are subject to moderation before being posted.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Recent News

AG James announces dismantling of Queens-based ghost gun trafficking operation

New York Attorney General Letitia James announced Wednesday the takedown of a prolific Queens-based gun trafficking crew accused of selling firearms and ammo at an East Elmhurst playground, the Queens Center Mall and other locations around the borough.

James secured a 625-count indictment charging five men for participating in the gun smuggling ring, which involved selling dozens of ghost guns, assault weapons, high-capacity magazines and hundreds of rounds of ammunition.