Three-Story 18th Avenue Building Sells For $1.98 Million, Developer Plans Retail, Medical Offices
A three-story building at 6923 18th Avenue, on the corner of 70th Street, has been scooped up by Cheng Shi, a developer who plans to expand the property’s retail offerings, as well as build new medical offices.
The deal closed last month for $1.98 million, negotiated by Kalmon Dolgin Affiliates broker Jeffrey Unger. (Note: city records indicate a sale price of $990,000. We contacted the broker, who provided the $1.98 million figure, for confirmation and will update when we hear back.)
Shi plans to renovate the building, with two ground-floor retail spaces and medical and dental offices on the second and third floors.
The building currently sports just shy of 4,800 square feet of space, split equally for retail, office and residential uses, according to PropertyShark. It was built in 1931, and sits a 20-foot-by-80-foot lot. No plans for construction have yet been filed with the Department of Building, according to the agency’s website.
UPDATE (12:13 p.m.): We confirmed the price, and a strikeout has been added above.
