Top 5 NYC Industrial Building Sales—April 2022

Source: PropertyShark, a Yardi Systems Inc. company

1. 184-10 Jamaica Ave., Queens
   Sale Price: $73,500,000

184-10 Jamaica Ave. Image courtesy of Google Street View

The KABR Group acquired the 226,605-square-foot building along with the adjacent 184-60 Jamaica Ave. totaling 287,240 square feet in Hollis. A joint venture between Madison Realty Capital and Artemis Real Estate Partners sold the two five-story industrial structures. KKR facilitated the sale with a $55.3 million acquisition loan. Built a decade apart in the early 1900s, the buildings have an office segment totaling 49,917 square feet.

2. 120 E. 144 St., Bronx
   Sale Price: $41,500,000

Tori Realty Corp. sold the 82,956-square-foot warehouse in Mott Haven to Beitel Group. The buyer secured a $29 million acquisition loan originated by Bridge City Funding. On the 44,541-square-foot lot, Beitel Group plans to develop a 13-story residential tower totaling 470 units. The property will also include an enclosed parking garage with 155 spaces.

3. 121 Hausman St., Brooklyn
   Sale Price: $24,000,000

An entity affiliated with Titan Industrial Services Corp. acquired the three-building industrial complex totaling 70,828 square feet in Greenpoint. Signature Bank facilitated the sale with a $15.6 million financing package. The single-story buildings were completed in 1931 and rehabilitated in 1984. The property includes 11 commercial units and a 12,849-square-foot garage.

4. 1042 Atlantic Ave., Brooklyn
   Sale Price: $14,000,000

A partnership between Y&T Development and EMP Capital acquired the 24,000-square-foot industrial building as well as 1034 Atlantic Ave. encompassing 3,915 square feet in Prospect Heights. The new owners plan to develop a residential building on the adjacent lots. According to Brooklyn Paper, in early May The New York City Council approved the project, which will have 35 percent of the total apartments set aside for residents earning between 40 and 80 percent of the area median income.

5. 45-36 21st St., Queens
   Sale Price: $10,000,000

Hutzler Manufacturing Company Inc. sold the 6,025-square-foot warehouse in Hunters Point. At the same time, the buyer also acquired an office property at 45-28 21st St. for $4.2 million, rounding out PropertyShark’s prominent office transactions for April. Signature Bank provided a $7.1 million acquisition loan for the two-property portfolio.