Top 5 NYC Industrial Building Sales—June 2022

2 min read

PropertyShark’s latest update on the city’s top deals for the sector.

Source: PropertyShark, a Yardi Systems Inc. company
  1. 27-11 49th Ave., Queens
    Sale Price: $105,500,000
27-11 49th Ave. Image via Google Street View

Traub Capital Partners sold the 214,820-square-foot MANA Products Headquarters in Long Island City to a joint venture between Metropolitan Realty Associates and Morgan Stanley Real Estate Investing. The cosmetics manufacturer, which was acquired by Traub in 2020, signed a new lease agreement with owners and will occupy the three-story building until 2037. The long-term contract also includes three five-year extension options. CBRE arranged the sale-leaseback transaction.

  1. 545 Broadway, Brooklyn
    Sale Price: $23,000,000

Acuity Capital Partners sold the 52,648-square-foot property with 15 commercial units in Williamsburg to a private investor. The four-story building last traded in early 2018, when the current seller paid $22.4 million to Blesso Properties for the 1931-built asset. Broadview Capital Partners facilitated the sale with a $18.5 million financing package.

  1. 42 President St., Brooklyn
    Sale Price: $16,500,000

A private investor acquired the single-story building totaling 14,739 square feet in Columbia Street Waterfront District as well as the adjacent property at 129 Van Brunt St. encompassing 7,500 square feet. The two-building portfolio last traded in January for a combined $16.1 million, when artist Urs Fischer sold the space that served as his studio as well as office.

  1. 303 Wythe Ave., Brooklyn
    Sale Price: $9,000,000

A private investor sold the one-story 7,425-square-foot industrial building in Williamsburg. According to the New York YIMBY, the new owner submitted plans to convert the property into a five-story building. The 22,874-square-foot development will include 16,405 square feet of residential space across 22 units and 6,074 square feet of commercial space. The buyer also secured a $14 million acquisition and development loan originated by S3 Capital.

  1. 38-16 48th Ave., Queens
    Sale Price: $7,500,000

After a 25-year ownership, Danco Inc. sold the warehouse totaling 12,700 square feet in Sunnyside. Completed in 1951, the single-story building includes 1,000 square feet of office space and a 11,700-square-foot factory area. The 7 subway line is easily accessible at southwest corner of 40th Street and Queens Boulevard and Long Island Expressway is less than half a mile away.

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