40-40 Northern Boulevard
LIC Car Dealership Sells for $85.66M
A Long Island City commercial property at 40-40 Northern Boulevard has just sold for $85.66 million. Global real estate giant, Goodman, bought the property, which is currently occupied by a Lexus dealership, from The purchase consists of an irregularly shaped, square foot lot, complete with a 1-story, square foot dealership building. The structure houses a showroom, office space, and a 28,150 square foot service center. The lot is used to park and store dealership inventory. Prior to selling, had maintained ownership of the property since 2005. The lot offers approximately 700,000 buildable square feet should Goodman choose to go the redevelopment route.