Sale of 22-Building Portfolio Marks Largest Queens Multifamily Deal Start of Pandemic

A&E Real Estate has purchased the 22-building, more than 1,000-unit Cunningham Heights residential complex. The sale of the Queens Village complex by Long Island-based Benjamin Companies fetched $130 million, or about $123,000 per unit, at a cap rate of 5.6 percent. Spread across four city blocks, the 1950s-era development is about 99 percent occupied.