Top 5 NYC Industrial Building Sales—January 2022

Source: PropertyShark, a Yardi Systems Inc. company

PropertyShark compiled the New York City’s top deals of the month for the sector.

1. 50-35 56th Road, Queens
   Sale Price: $132,000,000

Realterm Logistics has acquired the final mile warehouse totaling 140,000 square feet in the Maspeth submarket. Eastdil Secured and Stelth Group brokered the buyer’s second purchase in the submarket. The 1954-built property is fully leased and features 15 loading doors along with ample parking. The warehouse includes a 40,000-square-foot office component and it is easily accessible, interstates 278 and 495 are less than a mile away, while LaGuardia Airport is some 5 miles northeast.

2. 5112 Second Ave., Brooklyn
   Sale Price: $85,000,000

5112 Second Ave., Brooklyn. Image via Google Street View 

A joint venture between ASB Real Estate Investments and 60 Guilders sold the 209,000-square-foot warehouse in the Sunset Park neighborhood to CBRE Investment Management. Cushman and Wakefield represented the sellers in the transaction. The Class B complex was built in 1920 and is fully leased to the New York City Board of Elections.

3. 57-00 47th St., Queens
   Sale Price: $46,908,240

Prologis acquired the 19,760-square-foot warehouse along with 57-05 47th St. totaling 5,100 square feet and the vacant 58-20 47th St. At the same time the buyer also purchased an adjoining 1,890-square-foot office building for nearly $1.3 million. Combined the four lots offer 335,140 square feet of buildable space. Notable tenants in the area include FedEx Corp. and Amazon.

4. 58-38 Page Place, Queens
   Sale Price: $45,750,000

Locally based Weeks Lerman Group sold the 93,000-square-foot industrial building in the Maspeth submarket to A. Duie Pyle Inc., a transportation and logistics provider. The 1970-built warehouse includes 5,200 square feet of office space and features a 70-foot truck court, a single grade level door along with five dock high doors. The property is some 11 miles northeast of John F. Kennedy International Airport.

5. 138 Bruckner Blvd., Bronx
   Sale Price: $35,000,000

Zaro’s Family Bakery Inc. sold the 39,375-square-foot building in the Port Morris neighborhood to Montgomery Street Partners. In turn, the buyer leased the property to JCS Realty for $35.2 million. The latter plans to redevelop the site into a 12-story project totaling 447 residential units with the help of a $105 million financing package originated by S3 Capital Partners. The mix-use project is anticipated to come online in the fourth quarter of 2023.