People

Stephen R. Preuss

Senior Managing Director


Biography

Stephen R. Preuss is a Senior Managing Director in the Capital Markets Group of Cushman & Wakefield, where he focuses on investment sales for the New York Metropolitan Area primarily in Queens. Team Preuss is made of six associates working under Stephen. Each associate is an expert in the Queens market and facilitates a full-service approach to their clients Previously, Stephen was Vice President of Sales at Massey Knakal Realty Services. Cushman & Wakefield acquired Massey Knakal on December 31, 2014.

Stephen has transacted in nearly $3 billion of investment and commercial real estate over his 16 year career. During his tenure, he has sold over 350 properties to date and currently has over $600,000,000 in exclusive listings, the largest commercial inventory in Queens. Stephen is the #1 top producer in Queens and Top 100 Nationwide for Investment Sales and Capital Markets. He is a major contributor to multiple major publications for his expertise and accomplishments including The Real Deal, The New York Real Estate Journal, Crain's, Qns.com, Commercial Observer, Real Estate Weekly, and several other regional and national publications. Stephen is a contributor of several not-for-profit organizations including the Greater Flushing Chamber of Commerce, Chinese Business Association, and the Chinese American Planning Council.

Cushman and Wakefield is a global leader in commercial real estate services, helping clients transform the way people work, shop, and live. The firm’s 43,000 employees in more than 60 countries provide deep local and global insights that create significant value for occupiers and investors around the world. Cushman & Wakefield is among the largest commercial real estate services firms with revenues of $5 billion across a variety of core services of agency leasing, capital markets, investment management, and valuation & advisory, amongst others. Since the pairing of the truly dominant force that Massey Knakal Realty Services had built in the New York metro area with Cushman & Wakefield’s global platform and unparalleled breadth of real estate services, we have established a cohesive identity, which we have defined as “Think Globally. Act Locally.” This motto embodies our all-encompassing competencies as a full-service, global real estate firm with intensive block-by-block knowledge of each submarket. Cushman & Wakefield is proud to be #1 in New York City with 41% market share in transaction volume over $500,000, and 71% market share in transaction volume over $250 million.

Notable Transactions
  • Kew Gardens Hills Portfolio - $216 Million package of 53 walk-up multifamily buildings
  • LIC Davis Street Development - $24.8 Million Residential redevelopment, $230 per buildable sq. ft.
  • Bank of America Bell Boulevard - $13.5 Million Bank of America anchored retail strip, $1,388 per sq. ft.
  • Springfield Gardens Multifamily Portfolio - $14.1 Million Four-building multifamily package, 6.9% capitalization rate
  • Citibank Bank Great Neck - $4.125 Million Trophy Citibank, 4.0% capitalization rate
  • 14-34 110th Street, Flushing - $16,000,000 Waterfront mixed-use multifamily, 5.3% capitalization rate
  • LIC M-Zone Hotel Development Sites - Aggregate Price $22.3 Million Three properties with up to 143,165 buildable sq. ft.
  • 215-01/11 42nd Avenue, Bayside - $9.7 Million One acre+ site for storage redevelopment, $216 per buildable sq. ft.
  • Archer Towers Development, Downtown Jamaica - $55 Million Corner two+ acre development site, $102 per buildable sq. ft.
  • 77-17 Queens Boulevard, Elmhurst - $4.7 Million UJA-Federation of New York user commercial building, $491 per sq. ft.
  • 141-57 Northern Boulevard, Downtown Flushing - $23 Million Corner redevelopment site, $338 per buildable sq. ft.
  • Corona Holiday Inn - $37.35 Million Operating LaGuardia Holiday Inn for re-positioning, $165 per buildable sq. ft.
  • 71 Nassau Street / 29 John Street, NYC - $19.55 Million Ground floor retail condominium, $3,436 per sq. ft.
  • Claudio’s, Greenport Long Island - $14 Million Waterfront Claudio’s restaurant & development opportunity
  • RKO Theater Development, Downtown Flushing - $65.775 Million Mega mixed-use development with approved plans for ~348K buildable sq. ft.
  • Vanguard Shopping Center Portfolio - $23.776 Million Portfolio of three retail centers in Queens, $530 per sq. ft.
  • JFK Hotel Development - $35.5 Million Hotel development with approved plans for two hotels & 544 keys
Professional Affiliations
  • Long Island City Partnership (LICP)
  • The Queens Community House
  • Real Estate Board Political Action Committee
  • Real Estate Board of New York (REBNY), Commercial Queens Committee
  • Queens Chamber of Commerce
  • Greater Flushing Chamber of Commerce
  • Chinese Planning Council
  • Chinese Business Association
  • International Council of Shopping Centers
  • The North Shore Lions Club
  • Brookville Country Club
  • Long Island Business Network Member
Professional Recognition
  • Cushman & Wakefield Speaker Series Opportunity Zone Panelist - 2018
  • Top Sales Broker by CoStar Group, 2013, 2014, 2016,2017
  • Top Businessmen in Real Estate & Development Queens - Star Network 2016
  • Cushman & Wakefield #1 Queens Broker & Top 100 Broker 2016, 2017
  • 2018 Chinese Business Association Appreciation Award
  • 2018 AREAA State of Queens Real Estate Speaker
  • 2017 JP Morgan Chase Queens Commercial Real Estate Panelist
  • 2017 Queens Real Estate Conference Commercial Real Estate Panelist
  • Massey Knakal Award representing overall values in Queens, 2009, 2011, 2013
  • Massey Knakal Award for passion, 2007, 2008

Articles

    2015 Year in Review: Northern Queens
    1.14.2016
    2015 proved to be a very busy year in the Northern Queens Commercial Real Estate market. Throughout the first three quarters of the year Northern Queens experienced heavy activity focused in mixed use and retail properties, while across the whole Queens Market retail buildings and development sites saw the largest dollar volume growth. Compared to 2014, the dollar volume of sales increased by 44% over the first three quarters of 2015, however the number of sales decreased about 19%.View Article

    Northern Queens Year-End Market Review and What to Expect in 2014
    3.26.2014
    The second half of 2013 proved to be the stronger of the two. The Queens market saw a surge in properties sold getting the ball rolling quickly for 2014. Per Massey Knakal’s Year-End Property Sales Report, the number of properties sold in 2013 increased 17% from 2012, with Queens being the only market besides Northern Manhattan to have either matched or exceeded its 2012 numbers. The dollar volume remained remotely the same around $2.3 billion; however the number of properties sold increased from about 600 properties to just fewer than 800, with the second half of 2013 seeing 482 property sales alone. View Article

    2012 Year In Review: Northern Queens
    2.13.2013
    The year of 2012 was an overall positive environment for the commercial sales marketplace. Activity, pricing, sales volume, lending and just about any other relevant metric increased from the year before and greatly increased from the previous several years. The driving forces of the overall demand was the steady lack of available product throughout the year and the impending capital gains increase which pushed the sales activity to a sprint in the last few months of the year. In Northern Queens, which includes Flushing, College Point, Whitestone, Bayside, Little Neck, Douglaston, Jackson Heights, Corona and East Elmhurst, saw a total of 123 commercial and investment property sales for a total dollar value of $288,000,000. These figures represent an approximate 25% increase from 2011 in both categories. The sales figures and marketplace activity in each of these geographic territories are summarized below.View Article


Notable Recent Transactions

141-26 Northern Boulevard, Flushing/$13,000,000 Development/Conversion Sites, Flushing, New York

 

144-03 Barclay Avenue, Flushing, NY 11355-1551/$8,000,000 Apartment Buildings, Flushing, New York

 

51 Middle Neck Road, Great Neck, NY 11021/$4,500,000 Commercial Buildings, Nassau County, New York

 

4119 Bell Boulevard, Bayside, NY 11361-2858/$4,280,000 Development/Conversion Sites, Commercial Buildings, Bayside, New York

 

149-34 35th Avenue, Flushing, NY 11354/$3,425,000 Commercial Buildings, Special Use, Flushing, New York