Tthe family business that owns Whitestone Lanes, a bowling alley in Flushing, is allegedly planning to sell the property for $60 million to make way for a mixed-use development, but a manager said it is merely renovating the property.
Mar Mar Realty, which includes some of the family members who run the lanes, wants to sell the site at 30-05 Whitestone Expressway, according to Stephen Preuss, executive director in the Capital Markets Group of Cushman & Wakefield, which is marketing the property.
Whitestone Lanes declined to comment. But Tommy, a manager at Whitestone Lanes, previously told the TimesLedger that the family is not selling the bowling alley and is merely renovating and fixing up the bowling center. “They’re not selling it,” he said. “They’re doing a renovation. There was a misunderstanding.”
“At this point in time, they’re done with running the business and they’re looking to capitalize on the current development situation in the Flushing area,” Preuss said.
The $60 million selling price is based on a price of $155 per buildable square foot, he explained.
He also said Cushman & Wakefield is currently in talks and in the process with the Department of City Planning of changing the site’s zoning for its current industrial zoning to a commercial and residential zoning.
Reach reporter Madina Toure by e-mail at mtour
©2015 Community News Group
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