106-09 rockaway boulevard ozone park, ny 11417 · 2019. 11. 19. · and other services, such as...
TRANSCRIPT
106-09 Rockaway Boulevard
Ozone Park, NY 11417
E X C L U S I V E O F F E R I N G M E M O R A N D U M
Newly Renovated 2-Story Commercial Building550-Person Banquet Hall | 90’ of Frontage | 9,400± SF
Close Proximity to Resorts World Casino & Aqueduct Raceway
Exclusive Listing
Brokers
Susan LeeAssociate
(212) 951-8402
Shlomo GelernterSenior Director
(212) 951-8407
Ronald H. CohenChief Sales Officer
(646) 424-5317
Paul J. NigidoManaging Director
(646) 424-5350
Jared RehbergMarketing Director
(646) 424-5067
Valentina StaykovaAssociate
(212) 951-8406
EXECUTIVE SUMMARY
ASKING PRICE: $3,500,000
Executive Summary
Brokers will be protected.
Besen Partners, as exclusive agent for ownership, is pleased to offer for sale 106-09 Rockaway
Boulevard Ozone Park, New York, 11417 (the “Property”). The Property is comprised of a 2-story
restaurant/banquet/catering hall. This 9,400± SF commercial building is located on the north side of
Rockaway Boulevard between 106th and 107th Streets in South Ozone Park neighborhood of Queens.
The building is newly renovated from top to bottom. The location can seat up to 550 guests. Top floor
seating 225 and the bottom floor seats 225. It has a waterfall feature in the lobby, crystal chandeliers
with Bluetooth enabled color changing lighting. Two prep kitchens and two offices. Prep kitchens have an
elevator, dishwashing, ice machine, and separate service entrance.
This prime investment has tremendous upside. The Resorts World Casino and the Aqueduct Racetrack
are both located blocks away attracting large foot traffic. Also in close proximity to JFK Airport.
This handcrafted Italian stone building was created in 1968 to magnificent standards, and the attention
to detail is evident in every aspect of the banquet hall. From the breathtaking entry and majestic lobby
through to the Grand Ballroom, guests will be dazzled by the building's crystal chandeliers, gold crafted
ceilings, and polished imported stone floors throughout. The Grand Ballroom was designed to create a
sophistication, glamorous ambiance and sheer elegance for any social or corporate event.
Investment Highlights
106-09 Rockaway Boulevard, Ozone Park, NY 11417 | 5
Potential Property Uses
• Catering Hall
• Health Club
• Funeral Home
• Bank
• Spa/Salon
• Martial Arts
• Drug Store
• Grocery Store
• Event Space
• Indoor Playground
• Bounce Room
• Restaurant
Use Groups: R4 Use Groups: C2
Permitted uses for properties
located in R4 (residential) zones are
grouped into four (4) Use Groups:
Permitted uses for properties located in C2 (commercial – local services)
zones are grouped into nine (9) Use Groups:
Use Group 1
Single-family detached residential
development
Use Group 2
All other types of residential development
designed for permanent occupancy
Use Group 3
Community facilities, such as schools,
libraries, museums, college dormitories,
nursing homes and residential facilities
for special needs populations
Use Group 4
Community facilities, such as houses of
worship, community centers, hospitals,
ambulatory health care facilities and
nonprofit facilities without sleeping
accommodations
Use Group 1
Single-family detached residential
development
Use Group 2
All other types of residential development
designed for permanent occupancy
Use Group 3
Community facilities, such as schools,
libraries, museums, college dormitories,
nursing homes and residential facilities
for special needs populations
Use Group 4
Community facilities, such as houses of
worship, community centers, hospitals,
ambulatory health care facilities and
nonprofit facilities without sleeping
accommodations
Use Group 5 Transient hotels
Use Group 6
Retail and service establishments
that serve local shopping needs, such
as food and small clothing stores,
beauty parlors and dry cleaners
Use Group 7
Home maintenance and repair
services, such as plumbing and
electrical shops, which serve nearby
residential areas
Use Group 8
Amusement establishments such as
small bowling alleys and movie
theaters, and service uses, such as
upholstery and appliance repair shops
Use Group 9
Services to business establishments
and other services, such as printers or
caterers
• 9,400± commercial building with 90’ of frontage on Rockaway Boulevard
• 550-person Banquet Hall
• Blocks from the Resorts World Casino & Aqueduct Racetrack
• Waterfall feature, crystal chandeliers and Bluetooth enabled color changing lighting
• Capital Improvements: Heating/cooling units, roof, interior
• Located on heavily trafficked Rockaway Boulevard
• Easy access to the A subway line, Belt Parkway and Van Wyck Expressway
106-09 Rockaway Boulevard, South Ozone Park, NY 11417
LocationNorth side of Rockaway Boulevard between 106th
and 107th Streets
Block / Lot 11473 / 14
Lot Dimensions 49.97’ x 100.1 (irregular)
Lot Sq. Ft. (Approx.) 5,523±
Building Dimensions 40’ x 100’ Irr
Building Sq. Ft. 9,394±
Building Class K2 (multi-story retail building)
Stories 2
Zoning R4 / C2-3
FAR (Commercial / Residential / Built) 2.0 / .75 / 1.70
Assessment & Taxes (2019/2020) $561,150 / $58,999
Location Map
106-09 Rockaway Boulevard, Ozone Park, NY 11417 | 7
106-09 Rockaway Blvd
Xx
147 Duane Street, New York, NY 10013 | 9
Xx
Xx
Xx
147 Duane Street, New York, NY 10013 | 11
Xx
147 Duane Street, New York, NY 10013 | 13
Xx
The information contained in this listing (“Listing”) is confidential, furnished solely for the purpose of review by a
prospective purchaser of the following property: 106-09 Rockaway Boulevard Ozone Park, NY 11417 and is not to
be used for any other purpose or made available to any other person without the express written consent of Besen
Partners, Inc. or Owner. The material is based in part upon information supplied by the Owner and in part upon
information obtained by Besen Partners from sources it deems reliable. Summaries of documents are not intended
to be comprehensive or all inclusive, but rather only an outline of some of the provisions contained therein. No
warranty or representation, expressed or implied, is made by Owner, Besen Partners or any of their respective
affiliates, as to the accuracy or completeness of the information contained herein or as to engineering or
environmental matters. Prospective purchasers should make their own projections and conclusions without
reliance upon the materials contained herein and conduct their own independent due diligence, including
inspections.
This Listing contains selected information pertaining to the Property and does not purport to be all-inclusive or to
contain all of the information a prospective purchaser may desire. Graphics are only a representation of property
features, are not to scale and are subject to change. All financial projections are provided for general reference
purposes only and are based on assumptions relating to the general economy, competition and other factors
beyond control and are, therefore, subject to material change or variation. An opportunity to inspect the Property
will be made available to qualified prospective purchasers.
In this Listing, certain documents, including leases and other materials, are described in summary form. The
summaries do not purport to be complete or necessarily accurate descriptions of the full agreements involved, nor
do they constitute a legal analysis of such documents. Interested parties are expected to independently review all
documents. This Listing is subject to prior placement, errors, omissions, changes or withdrawal without notice and
does not constitute a recommendation, endorsement or advice as to the value of the Property by Besen Partners or
Owner. Each prospective purchaser is to rely upon its own evaluation as to the advisability of purchasing the
Property described herein.
Owner and Besen Partners expressly reserve the right, at their sole discretion, to reject any or all expressions of
interest or offers to purchase the Property and/or to terminate discussions with any party at any time with or
without notice. Owner shall have no legal commitment or obligation to any purchaser reviewing this Listing or
making an offer to purchase the Property unless a written agreement for the purchase of the Property has been
fully executed, delivered, and approved by Owner and any conditions to Owner’s obligations there under have been
satisfied or waived. Besen & Associates is not authorized to make any representations or agreements on behalf of
Owner.
This Listing is the property of Besen Partners and may be used only by parties approved by Besen Partners and
Owner. The Property is privately offered and, by accepting this Listing, the party in possession hereof agrees (i) to
return it to Besen Partners immediately upon request of Besen Partners or Owner and (ii) that this Listing and its
contents are of a confidential nature and will be held and treated in the strictest confidence. No portion of this
Listing may be copied or otherwise reproduced or disclosed to anyone without the prior written authorization of
Besen Partners and Owner. The terms set forth above apply to this Listing in its entirety.
Confidentiality & Disclaimer
106-09 Rockaway Boulevard, Ozone Park, NY 11417 | 14
381 Park Avenue South, New York, NY 10016 | Tel: 212.689-8488 | Fax: 212.689-9518
Exclusive Listing Team
For financing inquiries:
Matthew SlonimChief Operating Officer
(212) 951-8405
Susan Lee
Associate
(212) 951-8402
Paul J. Nigido
Managing Director
(646) 424-5350
Ronald H. Cohen
Chief Sales Officer
(646) 424-5317
Valentina Staykova
Analyst
(646) 424-5316
Shlomo Gelernter
Senior Director
(212) 951-8407
Jared Rehberg
Marketing Director
(646) 424-5067