The Queens Portfolio II is comprised of 1,948 apartments contained in 47 apartment buildings in 11 distinct neighborhoods in Queens, New York and Long Island. In total, this Portfolio contains approximately 1.5 million net rentable square feet, including approximately 20,000 square feet of commercial space.

The Queens Portfolio II was family-managed for decades with the goal of maximizing current cash flow while keeping capital expenditures to a minimum. Over time, management neglected to address the substantial capital needs of the portfolio resulting in the buildings' underperformance relative to its competitive set. AREA's business model includes investing in capital improvements to bring the buildings up to a best-in-class standard, therefore providing a high-quality and affordable living experience for residents.