Top 5 NYC Industrial Building Sales—December 2021

Source: PropertyShark, a Yardi Systems Inc. company

1. 19-19 37th St., Queens
   Sale Price: $14,400,000

19-19 37th St. Image via Google Street View

A private investor sold the property totaling 23,000 square feet in Astoria to Seagis Property Group. The single-building warehouse includes a 7,500-square-foot office component along with storage space totaling 15,500 square feet. Built in 1979 on a 35,003-square-foot lot, the property features a 20-foot clear height, 4 dock doors and an additional 11,901 buildable square footage.

2. 121 Grand St., Brooklyn
   Sale Price: $13,750,000

Sold to a private investor, the acquisition of the three-property complex in Williamsburg involved the assumption of an $11 million loan originated by S3 Capital in late 2018. The industrial property totaling 9,606 square feet also includes 123 Grand St. and 228 Berry St. with a combined additional buildable area of some 20,000 square feet. The 1900-built phase of the complex also incorporates two residential units, while the newest addition of the trio was completed in 1997.

3. 2004 McDonald Ave., Brooklyn
   Sale Price: $8,600,000

BK Developers Inc. sold the 24,300-square-foot building in Gravesend. Truestone facilitated the transaction with $7.7 million in acquisition financing. The tenant roster includes Ideal Furniture Center, YS Marketing Inc. and Amber Court at Home, among others. The 1931-completed property offers 163 feet of frontage along McDonald Avenue.

4. 53-33 97th Place, Queens
   Sale Price: $7,900,000

Queens-based TEK Realty Advisors represented the seller, a private investor, in the disposition of the industrial structure totaling 19,000 square feet in the borough’s Corona neighborhood. The property developed in 1953 features two commercial units, 21-foot ceilings along with four drive-in doors and is easily accessible, with Interstate 495 less than a mile away.

5. 743 Myrtle Ave., Brooklyn
   Sale Price: $7,050,000

An entity related to Price Stone Inc. acquired the 15,000-square-foot property in Bedford-Stuyvesant. The 1988-built building, also known as 138 Nostrand Ave., traded with the help of a $4.5 million acquisition loan. Webster Bank provided the 10-year mortgage with a variable interest rate based on the WSJ Prime Rate and a 25-year amortization schedule.