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LeFrak Sells Its Rego Park Office Building For $140M, Records Show

By Ewa Kern-Jedrychowska | April 19, 2017 5:55pm
 The LeFrak Organization sold its Rego Park office building for nearly $140 million to Fidelis Care.
The LeFrak Organization sold its Rego Park office building for nearly $140 million to Fidelis Care.
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DNAinfo/Ewa Kern-Jedrychowska

QUEENS — One of the largest office buildings in Rego Park, known as Queens Tower, has just been sold for nearly $140 million, according to city records.

Health insurer Fidelis Care purchased the 11-story building at 95-25 Queens Blvd. from the LeFrak Organization, which developed it in 1975, as first reported by the Real Deal.

Fidelis Care, which has been one of the tenants in the building, confirmed the deal that closed on March 28, according to city records.

The company did not immediately respond to questions about its future plans for the building.

The LeFrak Organization, one of the biggest landlords in the city, declined to comment.

The 358,000-square-foot building, between 62nd Drive and Junction Boulevard, near the Rego Center Mall, also houses North Shore LIJ urgent care center, Lobster House as well as branches of TD and Capital One banks.

In 2012, LeFrak turned its other office building in Rego Park into a luxury rental building, called The Contour, featuring large apartments, a lounge and a roof deck with barbecue grills, which real estate experts say spurred an infusion of upscale buildings in the neighborhood.

Rego Park has since been undergoing a transformation, attracting developers and new residents.

Last July, another Rego Park office building, a 2-story structure at 99-01 Queens Blvd., sold for $31.2 million, nearly $5 million more than it sold for a decade ago.