Ashkenazy Acquires Queens’ Shops at Atlas Park for $72M
By Isabelle Durso August 1, 2025 11:57 am
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Ashkenazy Acquisition Corporation has acquired a 374,000-square-foot shopping center in Glendale, Queens, for $72 million, Commercial Observer has learned.
The development firm, helmed by Ben Ashkenazy, announced Thursday it purchased The Shops at Atlas Park at 8000 Cooper Avenue from Macerich and a partner after outbidding other buyers, who were mostly regional entities partnering with private equity firms, a source told CO.
The Shops at Atlas Park features a range of retail tenants, including Foot Locker, HomeGoods, Regal Cinemas and New York Sports Club, as well as 1,400 parking spaces, according to a release.
“We are excited to enhance and upgrade this extraordinary property into a best-in-class lifestyle center, similar to many lifestyle centers Ashkenazy owns, including Vernon Hills Center in Westchester County,” Joe Press, chief operating officer of Ashkenazy, said in a statement.
Acore Capital provided the financing for the acquisition after beating out more than 15 lenders who bid on the deal, the release said.
“We’re proud to be involved in financing this acquisition and have strong conviction in the asset’s potential with Ashkenazy as the sponsor,” Tony Fineman, senior managing director and head of originations at Acore, said in a statement.
Newmark’s Adam Spies, Adam Doneger, Michael Collins and Conor Lalor arranged the sale. Newmark declined to comment, while a spokesperson for Macerich did not immediately respond to a request for comment.
Ashkenazy’s new shopping center sits at the intersection of Cooper Avenue and 80th Street, near the southern tip of St. John Cemetery. It is the latest asset to join the firm’s retail portfolio, which includes Bayside Marketplace in Miami, the Shops at Rivercenter in San Antonio, the Shops at the Bravern in Seattle, and Beverly Connection in Los Angeles, according to the release.
The Shops at Atlas Park — which is currently 85.1 percent leased — also feature more than 10,000 square feet of green space, according to marketing materials for the property.
Isabelle Durso can be reached at idurso@commercialobserver.com.
