8 THE QUEENS COURIER • JULY 22, 2021 FOR BREAKING NEWS VISIT WWW.QNS.COM
Photos courtesy of B6 Real Estate
Three-story building in Corona sells for $3.16 million
BY PAUL JUNIOR PRUDENT
editorial@qns.com
@QNS
Th e demand for free-market properties
in well-located areas continues to surge
in Corona.
B6 Real Estate Advisors have announced
the sale of a fully occupied, 100 percent
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HOT SUMMER SALES
9 DESIGNER 9
SUNGLASSES
SPECIALS
free market three-story building —
a mixed-use, nearly 11,000-square-foot
building located on the corner of 51st
Avenue and Corona Avenue — for $3.16
million.
Th e property, located at 106-20 Corona
Ave., consists of three retail tenants, two
of which are restaurants that remained
open through the pandemic, Don Alex
and Paraiso Colombiano, and a clothing
shop, Irene’s Fashion. It also consists of six
residential units and onsite parking with
seven spaces.
“Th is deal speaks volumes about the
market and our process,” Vice Chairman
and Partner of B6 Th omas Donovan said.
“Th is was sold and marketed at the height
of the pandemic, and we sold it for 97 percent
of the asking price.”
According to multiple real estate agencies,
that building is situated in a prime
corner and highly visible location in the
busiest retail hub of Corona.
Th e building is across the street from
the Park Side Restaurant, a renowned
iconic Italian restaurant. Th e restaurant
tenants stay open and survive through the
devastating impact of the pandemic on
local businesses.
Th ey were both able to continue servicing
the community and stay in business.
Th ey off ered outdoor dining options during
that period.
Th e property is also in the proximity of
Flushing Meadows Corona Park. While it
is located in a high-traffi c and busy location,
the building consists of apartments
that would be considered large for the
area with below-market rents.
“Th e building is ideal for families who
want to be located in central Queens,”
Donovan said. “Th e apartments were all
legal free-market units, and therefore
makes the building a rare fi nd.”
Commuters going to the city or out on
Long Island don’t have to drive very far to
get on the highway.
Th e building is a 40-minute trip time
to Penn Station via the 7 train and Long
Island Railroad. Th e Corona Avenue and
51st Avenue bus stop is right across the
street from the property on William F.
Moore Park. Th e Long Island Expressway
is also just a half-mile away.
According to Donovan, the property
was priced “appropriately,” and his group
was able to identify the best buyer as well.
He said his group has a business plan that
works, and that has been using that plan
for a long time.
“Even with the uncertainty that COVID
brought, it will ultimately benefi t the
seller,” he said.
B6 Real Estate announced that 106-20 Corona Ave. sold for $3.6 million.
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