"The Forest Hills Jewish Center is officially poised to trade its longtime Queens Boulevard home for a hefty $39 million, setting up a major redevelopment on one of Forest Hills' most visible blocks."
"According to Commercial Observer, an April 6 document signed by Anthe Maria Bova of the New York State Attorney General's Charities Bureau signed off on the sale of the roughly 55,000 square foot property to an entity called 106QB Development."
"Under the amended agreement, the Forest Hills Jewish Center will receive a $10 million credit toward ownership of a condominium unit at 70 35 113th Street, the former Parkway Hospital site now being redeveloped as the Perennial at Parkway."
The Forest Hills Jewish Center is set to sell its Queens Boulevard property for $39 million, facilitating a redevelopment project. The congregation will move to a new space at the Perennial at Parkway complex. The sale is linked to the delivery of the new condominium unit, ensuring a clear timeline. The Attorney General's office has approved the sale to 106QB Development, associated with RJ Capital and Top Rock. The congregation will receive a $10 million credit towards the new unit, with the sale closing 12 months after the unit's delivery.
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