Top 5 NYC Industrial Building Sales—July 2022

Source: PropertyShark, a Yardi Systems Inc. company

1. 160 John St., Brooklyn
   Sale Price: $43,550,000

Invesco Real Estate acquired the 99,270-square-foot self-storage warehouse in Vinegar Hill. The property last traded in 2007, when Extra Space Storage sold it for $10.8 million, while the management arm of the REIT continues to oversee management operations at the 10-story warehouse. According to its website the facility features heated storage units, a loading dock, an on-site office and elevator access, among other amenities and services.

2. 10-51 Irving Ave., Queens
   Sale Price: $26,000,000

A private investor sold the 6,900-square-foot property on 1.4 acres in Ridgewood to Criterion Group. The buyer secured a $10 million acquisition loan originated by Asset Preservation Inc. The bridge loan carries a 5.5 percent interest rate and is set to mature in January 2024. Completed in 1930, the two-building property last traded in 2018, when the current seller paid $12.5 million for the home of Forest Masonry Yard.

3. 129 Van Brunt St., Brooklyn
   Sale Price: $22,000,000

Cara Constructions & Development acquired the 7,500-square-foot building along with the 14,739-square-foot 42 President St. in Columbia Street Waterfront District. The pair of adjacent properties previously traded last month for $16.5 million. The buildings offer easy access to subway lines F and G, roughly half a mile away at the corner of Smith and Second streets.

4. 152-65 Rockaway Blvd., Queens
   Sale Price: $21,153,264

152-65 Rockaway Blvd. Image courtesy of Google Street View

After decades of ownership, Horizon Air Freight sold the 66,976-square-foot warehouse in Rochdale to Longpoint Property Group. The two-story property completed in 1960, includes nine dock high doors as well as a grade level door and was renovated in 1997. Occupied by DHL, the single-building facility is half a mile away from Belt Parkway and within 2 miles of John F. Kennedy International Airport.

5. 59-20 56th Ave., Queens
   Sale Price: $18,000,000

Hi-Tech Metals Inc. sold the steel and architectural metal fabrication production center totaling 36,400 square feet in the Maspeth neighborhood of Queens. Vasinee Food Corp. funded the purchase with a $1.7 million loan originated by Cathay Bank. Built in 1971, the two-story building last sold three years ago, when the current seller paid $6.4 million for the industrial asset.