Top 5 NYC Industrial Building Sales—October 2021

Source: PropertyShark, a Yardi Systems Inc. company

1. 2-33 50th Ave., Queens
   Sales Price: $88,500,000

Self-storage company The Fortress Corp. sold the 95,750-square-foot property in Long Island City to a partnership including The Vorea Group, The Domain Cos. and L+M Development Partners, Commercial Observer reported. JLL facilitated the transaction. The parcel totaling 76,000 square feet is within an Opportunity Zone and includes an additional 361,760 buildable square footage. The new owners plan to replace the existing warehouse with a mixed-use residential development.

2. 55-30 46th St., Queens
   Sales Price: $57,250,000

Wharton Equity Partners sold the 70,500-square-foot property in Maspeth to EverWest Real Estate Investors. The seller had owned the two-building property since 1991. The 1961-built industrial complex also includes an office component totaling 1,900 square feet along with the 68,600-square-foot factory space. The property features truck courts between 86 and 140 feet along with a grade level as well as four dock high doors.

3. 1125 Close Ave., Bronx
   Sales Price: $18,350,000

A private investor sold the 66,800-square-foot warehouse to Prologis. Completed in 1957, the industrial space is home to Airtech Systems Inc., Rising Storm Boxing and General Fitness Inc., among others. The facility features 34-foot ceiling heights, six grade level doors and three truck well loading doors and is within an Opportunity Zone.

4. 310 Meserole St., Brooklyn
   Sales Price: $4,800,000

Sold to a private investor, the Williamsburg warehouse totaling 22,800 square feet traded with the help of a $3 million acquisition loan originated by Connectone Bank. The two-building, five-story property last traded for $6.4 million in 2016. The 1960-built property features 91-foot roof height on a 12,000-square-foot lot.

5. 490 Flushing Ave., Brooklyn
   Sales Price: $3,300,000

490 Flushing Ave., Brooklyn

Broadview Funding facilitated the sale of the less than 5,000-square-foot property in the Bedford-Stuyvesant neighborhood with a $3 million acquisition financing. The structure classified as a light manufacturing facility was completed in 1931 on a 0.1-acre site. The property previously changed hands in 2016.