{"id":312515,"date":"2026-08-03T15:00:06","date_gmt":"2026-08-03T15:00:06","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-ny\/312515\/"},"modified":"2026-08-03T15:00:06","modified_gmt":"2026-08-03T15:00:06","slug":"long-island-firm-acquires-queens-retail-complex-for-56m","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-ny\/312515\/","title":{"rendered":"Long Island firm acquires Queens retail complex for $56M"},"content":{"rendered":"

A Long Island<\/a>-based\u00a0investment firm, led by\u00a0Ken Schuckman<\/a>\u00a0and\u00a0Aaron Malinsky<\/a>, bought a sprawling Queens<\/a> retail<\/a> property for $56 million.\u00a0\n<\/p>\n

BTF Whitestone Realty LLC, an affiliate of BTF Capital<\/a>\u00a0Fund,\u00a0purchased\u00a0the\u00a0119,771-square-foot Whitestone Shopping Center<\/a> on 9.26 acres at 153-15-153-49 Cross Island Parkway.\u00a0\n<\/p>\n

Built in 1955, Whitestone Shopping Center has 28 stores in five buildings. It\u2019s anchored by a 27,457-square-foot Key Food<\/a> supermarket and has a roster of neighborhood and regional tenants, including Chase Bank and Webster Bank. The property is less than 50 percent occupied.\u00a0<\/p>\n

Available spaces at the shopping center\u00a0range in size from\u00a0767 square feet\u00a0to 18,883 square feet, according to a leasing brochure from\u00a0Rockville Centre<\/a>-based\u00a0Schuckman Realty, which\u00a0represents\u00a0the property.\n<\/p>\n

The new ownership\u00a0plans\u00a0on\u00a0extensive renovations to the center, including exterior and site improvements, base building and the buildout of tenant-ready space throughout the center. Work will be phased so that existing tenants remain open and operating throughout.\u00a0\n<\/p>\n

\u201cWhitestone is one of the strongest neighborhoods in New York City, and this center has served it since 1955,\u201d Schuckman, president of Schuckman Realty and a manager of BTF Whitestone Realty LLC, said in a written statement. \u201cIt has the location, the parking, and the daily traffic that retailers want, and almost nothing competes with it. Our job now is to bring the property up to the quality this community deserves and fill it with the tenants they have been asking for.\u201d\u00a0<\/p>\n

Founded in 2021, BTF Capital owns\u00a0interests in several retail properties<\/a> around the New York metropolitan area, including Atlantic Plaza in Ozone Park, Queens;\u00a0New City Shopping Center in New City, N.Y.;\u00a0Throggs Neck Shopping Center in the Bronx;\u00a0and others. BTF is part of the ownership group for the Shops on Broadway, the\u00a0$175 million redevelopment\u00a0of the former Broadway Commons mall in Hicksville.\u00a0\n<\/p>\n

\u201cWell-located, supermarket-anchored real estate in supply-constrained New York City submarkets is very difficult to replace,\u201d Malinsky, co-founder of BTF Capital and\u00a0Curbcut\u00a0Urban Partners, LLC, said in the statement. \u201cWe are investing here for the long term, and we intend for this to be the center Whitestone is known for.\u201d\u00a0\n<\/p>\n

The seller of the Whitestone Shopping Center was Manhattan-based Punia & Marx Real Estate.\u00a0Acquisition financing was arranged by the Northmarq New York Debt + Equity team.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"A Long Island-based\u00a0investment firm, led by\u00a0Ken Schuckman\u00a0and\u00a0Aaron Malinsky, bought a sprawling Queens retail property for $56 million.\u00a0 BTF…\n","protected":false},"author":2,"featured_media":312516,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[37],"tags":[118187,118188,118189,118190,78398,776,9,24,63,122,124,123,118191,69801,118192],"class_list":["post-312515","post","type-post","status-publish","format-standard","has-post-thumbnail","category-queens","tag-aaron-malinsky","tag-btf-capital","tag-commercial-real-estate-investment","tag-ken-schuckman","tag-key-food","tag-long-island","tag-new-york","tag-new-york-city","tag-nyc","tag-queens","tag-queens-headlines","tag-queens-news","tag-retail-properties","tag-rockville-centre","tag-whitestone-shopping-center"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/312515","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/comments?post=312515"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/312515\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media\/312516"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media?parent=312515"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/categories?post=312515"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/tags?post=312515"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}