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Rego Park Office Building Sells for $31 Million

 Building at 99-01 Queens Blvd. was purchased last week for $31 million.
Building at 99-01 Queens Blvd. was purchased last week for $31 million.
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BLUMENFELD DEVELOPMENT GROUP

QUEENS — A Rego Park office building was recently sold for $31.2 million, nearly $5 million more than it sold for a decade ago, officials say.

The 2-story building at 99-01 Queens Blvd., between 66th Road and 67th Avenue, was purchased by the Blumenfeld Development Group from Vornado Realty last week.

The nearly 57,000-square-foot property, which includes commercial space on the ground floor and office/school space on the second floor, is currently home to Bank of America, New York Sports Club and DeVry College of New York.

Blumenfeld said that it also signed a long-term lease with Mount Sinai Hospital, which will move to the remaining vacant space in the building by early next year, according to the developer.

In a statement, Brad Blumenfeld, vice president of Blumenfeld Development Group, called the building “well positioned,” adding that it will “continue to be a benefit to the community.”

Vornado purchased the property from Ashkenazy Acquisition Corp. in 2005 for $26.5 million, city records show. 

In recent years, Rego Park has been attracting new real estate deals as well as high-end developments — changing the face of the neighborhood and attracting new residents.