Philips International pays $9M to R&E Property Corp. for property in Forest Hills

Philip Pilevsky’s Philips International through the entity Forest Hills 17 LLC paid Richard Wender’s R&E Property Corp.’s R. & E. Property Corp. $8.8 million for 107-17 71st Avenue in Forest Hills. The deal closed on December 17, 2019, and was recorded on February 13, 2020. The transaction consists of 1 parcel, including the tax class bank building with or without parking (K7). The property is 9,000 square feet. The parcel(s) have total development potential of 26,030 square feet.
The average sale price per square foot is $336.

The broker was B6 Real Estate Advisors’ Thomas Donovan, according to Traded NY.

Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link