Billionaire Miracle-Gro family sells retail building in Kew Garden Hills for $3.2M

The entity G&Y Main Street Plaza LLC paid $3.2 million to Karli Hagedorn, the wife of Scotts Miracle-Gro co-owner James Hagedorn, through the entity State Homes Corporation for the retail building at 72-66 Main Street in Kew Garden Hills, Queens.

The Hagedorn family has a nonprofit at the same address as the seller entity. The signatory for Karli Hagedorn was Karli Hagedorn.
The deal closed on February 3, 2022 and was recorded on February 25, 2022.
The property has 12,000 square feet of built space according to PincusCo analysis of city data. The sale price per built square foot is $266 per the PincusCo analysis. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.)

The 12,000-square-foot property generated revenue of $619,969 or $52 per square foot, according to the most recent income and expense figures.

Karli Hagedorn is the wife of Scotts-Miracle Gro https://fconline.foundationcenter.org/fdo-grantmaker-profile/?key=HAGE008
In Kew Garden Hills, the bulk, or 45 percent of the 13.8 million square feet of built space are 1-4 family buildings, with walkup buildings next occupying 17 percent of the space. In sales, Kew Garden Hills has the 46th highest sale turnover among other neighborhoods in Queens with $4.6 million in sales volume in the last two years. For development, Kew Garden Hills has had very little major development activity relative to other neighborhoods.It had 100,075 square feet of commercial and multi-family construction under development in the last two years, which represents 0.72 percent of the neighborhood’s built space.
On the tax block, the majority, or 64 percent of the 86,307 square feet of built space are 1-4 family buildings, with retail buildings next occupying 24 percent of the space.
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