Ben Ashkenazy acquired the Shops at Atlas Park in Glendale, Queens, from Macerich, which had aimed to offload the property as part of a $2 billion debt-reduction plan. The sale price wasn’t disclosed, but estimates placed the value around $70 million. The 370,000-square-foot mall is 97% leased, with tenants including T.J. Maxx and New York Sports Club. Ashkenazy plans to upgrade the property into a “best-in-class lifestyle center.” The deal is part of a broader $750 million investment push by Ashkenazy targeting distressed retail and hospitality assets over the next two years.
Ben Ashkenazy
