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The real deal

Emmes Buys Astoria Beer Garden Site For $30m

By

Carolina Bergara

June 12, 2014

Emmes Asset Management paid $30 million for a six-story former warehouse in Astoria that houses the beer garden Studio Square, the Midtown-based firm told The Real Deal.

Emmes made the deal on behalf of one of its pension fund clients, which it did not identify. The seller, S Hospitality Group, occupies the entire space at 35-37 36th Street, with the beer garden on the ground floor and events and operating space on the other floors. The new owner plans to convert the upper floors to a shared office workspace for tenants next year.

Emmes represented itself in the deal, while Pinnacle Realty represented the seller. The property last sold for $13.7 million in 2008. The next year, Studio Square opened its doors, as previously reported.

Read more at The Real Deal

 Astoria Queens Real Deal

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Astoria Brooklyn Commercial Observer Crain's New York Business For Lease For Sale Hot Property Long Island City PincusCo Queens Real Deal Real Estate Agent Real Estate Weekly The Bronx The New York Times Top Seller

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