61-01 Springfield Boulevard
Queens Retail Center — a 40-Year Hold Exits at $32M
84,000 SF
2022
Overview
The $32M sale of 61-01 Springfield Boulevard transferred an 84,000 SF Queens retail center — anchored by national tenants USPS, Walgreens, Chase Bank and UPS, with a 100-car parking lot — from a seller who had held the property for 40 years to the Lee Family. The Real Deal reported the trade as leading New York's mid-market investment sales when it closed in 2022.
The Challenge
A four-decade family hold means the sale decision carries as much weight as the price. The asset's value rested on its national-credit tenant roster and irreplaceable parking — factors that reward a targeted process over broad public marketing.
Our Approach
Skyline positioned the center on its credit tenancy — USPS, Walgreens, Chase Bank, UPS — and its 100-car parking field, reaching private investors who underwrite stable, national-tenant retail in the boroughs.
The Result
The Lee Family acquired the center for $32 million — reported by The Real Deal as the deal leading NYC's mid-market sales that week — giving the 40-year ownership a clean exit at institutional-quality pricing.
Key Takeaways
- National-credit tenant roster (USPS, Walgreens, Chase, UPS) drove institutional-quality pricing
- Reported by The Real Deal as leading NYC's mid-market sales at closing
- A 40-year family hold exited in a single, targeted transaction
- Outer-borough retail with parking remains deeply liquid for private capital
Press Coverage
2 articles · 2 outletsFrequently Asked Questions
Who brokered the sale of 61-01 Springfield Boulevard?
Robert Khodadadian of Skyline Properties brokered the $32M sale of the Oakland Gardens retail center from Mandarin Realty NY LLC to the Lee Family in 2022.
How much did the Springfield Boulevard retail center sell for?
The 84,000 SF center sold for $32 million in 2022 — reported by The Real Deal as the deal leading New York's mid-market investment sales.
What made 61-01 Springfield Boulevard valuable?
National-credit anchor tenants — USPS, Walgreens, Chase Bank and UPS — plus a 100-car parking lot, held by the same family for 40 years before the sale.
Deal Metrics
Transaction Parties
Buyer
Lee Family (Ui Kun Lee)
Seller
Alfredo Li via Mandarin Realty NY LLC
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More press on 61-01 Springfield Boulevard
1 canonical press features documenting the $32M transaction at 61-01 Springfield Boulevard.
Price, buyer, seller, $/SF, source citations
