Premier Equities Buys 17K-SF Flushing Retail Building for $27M

Premier Equities has acquired a retail building in Flushing, Queens, for $27 million, according to city records made public Monday.

Premier, through the entity Premier 39-09 Main Street (DE), purchased the three-story building at 3909-3911 Main Street from Riesenburger Properties, records show. Attorney Mark Mermel signed for the buyer, while Regina Riesenburger signed for the seller.

It’s unclear who brokered the deal. A spokesperson for Premier did not immediately respond to a request for comment, while a spokesperson for Riesenburger could not be reached for comment.

The 17,042-square-foot building had been in the Riesenburger family since 1974. The last deal was in 2004, when Riesenburger Properties purchased the site from Alkus Riesenburger, according to records.

The building between Roosevelt and 39th avenues, which is currently home to luxury watch and jewelry retailer Carat & Co., features marble floors, a grand staircase and a giant chandelier, according to LoopNet.

It’s unclear what Premier intends to do with the building, but the investment firm has sold off four properties for a total of $71.5 million over the past year, according to PincusCo, which first reported the sale.

That includes the 64-room Flatiron District hotel at 1149 Broadway, which Premier sold to Azora Exan for $47.9 million in June, as Commercial Observer previously reported.

Isabelle Durso can be reached at idurso@commercialobserver.com.