June 29, By Jason Cohen
A Manhattan-based development company has purchased the Queens Boulevard site that is home to the Entenmann’s Bakery Outlet for $11.8 million.
The 70-50 Queens Boulevard property was purchased by The Chetrit Group, a major Manhattan-based real estate development firm, on June 15.
Entenmann’s lease is set to expire at the end of the month, according to Matthew Fotis, senior managing director with Marcus & Millichap, which brokered the deal.
The bakery outlet appears to have already closed. Several reviews on Google indicate its closed and calls have not been answered.
The Chetrit Group doesn’t have any current plans for the site, according to Fotis. However, he said that it is zoned for residential and retail, which will allow the developer to build a mixed-use building that could be between 72,000 and 96,000 square feet.
The development company could not be reached for comment.
Real Estate Weekly was first to report the story.