Several sources have confirmed Blackstone Group has bought Sky View Parc shopping mall and garage from the Canadian company and complex’s co-developer Onex.
According to published reports, Blackstone paid $400 million for the complex at College Point Boulevard and Roosevelt Avenue in Downtown Flushing, that includes a 560,000-square-foot shopping mall with stores including Best Buy, Nordstrom Rack and BJ’s Wholesale Club. The garage, which sits in between the mall’s two wings, is also part of the deal.
Onex co-developed the property, which includes two condo towers, with Muss Development. Onex bought out Muss in late 2014. The site, considered a white elephant when it first opened, has began thriving. The condo towers are sold out and new apartments are under construction above the west wing of the shopping mall and the garage.
– Domenick Rafter