{"id":1004604619,"date":"2022-09-29T05:17:59","date_gmt":"2022-09-29T13:17:59","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004604619"},"modified":"2022-12-08T23:37:26","modified_gmt":"2022-12-09T07:37:26","slug":"top-5-nyc-industrial-building-sales-august-2022","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/top-5-nyc-industrial-building-sales-august-2022\/","title":{"rendered":"Top 5 NYC Industrial Building Sales\u2014August 2022"},"content":{"rendered":"
\"\"<\/a>

Source: PropertyShark, a Yardi Systems Inc. company<\/p><\/div>\n\n\n

  1. 537-545 Sackett St., Brooklyn<\/a><\/li><\/ol>\n\n\n\n

    Sale Price: $30,366,000 <\/p>\n\n\n\n

    The 41,050-square-foot factory in Gowanus will be replaced by Majestic, a mixed-use development. Developed by a partnership, which includes The Domain Cos., Vorea Group, Mega Development and the Urban Investment Group, an arm of Goldman Sachs Asset Management the project will include 255 units along with 18,000 square feet of commercial space. JLL Capital Markets arranged a $142 million construction loan originated by U.S. Bank for the 12-story building expected to come online in 2025.<\/p>\n\n\n\n

    2. 29-16 40th Ave., Queens<\/a><\/p>\n\n\n\n

    Sale Price: $19,000,000<\/p>\n\n\n\n

    A private investor sold the 9,449-square-foot property along with 29-24 40th Ave.<\/a> totaling 19,400 square feet in Long Island City. Customers Bank facilitated the transaction with a $12 million acquisition loan. Completed in 1916 and 1931, the two-story buildings include a total of 4,497 square feet of office space as well as a combined 58,716 square feet of unused floor area ratio.<\/p>\n\n\n\n

    3. 1956 Atlantic Ave., Brooklyn<\/a><\/p>\n\n\n\n

    Sale Price: $17,900,000<\/p>\n\n\n

    \n
    \"\"
    Image via Google Street View<\/figcaption><\/figure><\/div>\n\n\n

    Brookfield Properties acquired the 58,600-square-foot CubeSmart Self Storage in Crown Heights from a joint venture between Urban Storage Fund and Heitman Capital Management. Wells Fargo Bank provided an $11.4 million acquisition loan for the two-story facility built in 2018. PNC Bank provided the previous mortgage encumbering the property, a $9.6 million construction loan secured in 2016. <\/p>\n\n\n\n

    4. 16-30 Cody Ave., Queens<\/a><\/p>\n\n\n\n

    Sale Price: $13,225,000<\/p>\n\n\n\n

    Bow Tie Partners purchased the 39,550-square-foot property on 0.4 acres in Ridgewood from a private investor. Completed in 1931, the building includes 2,650 square feet of office space and is home to Vintage Wine Warehouse, which operates a subterranean wine storage facility at the location. The building last traded in early 2005, when the current seller paid $2 million for the two-story warehouse.<\/p>\n\n\n\n

    5. 33-34 Prince St., Queens<\/a><\/p>\n\n\n\n

    Sale Price: $12,500,000<\/p>\n\n\n\n

    Courtlandt Boot Jack Co. Inc. sold the 25,960-square-foot, owner-occupied building in Downtown Flushing. The buyer, a private investor, secured a $7.5 million acquisition loan originated by Cathay Bank for the single-story asset, which includes 2,160 square feet of office space. The property is easily accessible, less than half a mile from the subway line 7 at the northwest corner of Main St. and Roosevelt Ave. and within a mile of Whitestone Expressway.<\/p>\n","protected":false},"excerpt":{"rendered":"

    PropertyShark collected the top deals of the month for the sector.<\/p>\n","protected":false},"author":1314,"featured_media":1004604621,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21748,1600,10,37790],"tags":[33497,35721,44006],"class_list":["post-1004604619","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industrial","category-new-york","category-northeast","category-rc-retail-nyc-spotlight","tag-brookfield-properties","tag-cubesmart","tag-jll-capital-markets"],"acf":[],"yoast_head":"\nTop 5 NYC Industrial Building Sales\u2014August 2022 - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/top-5-nyc-industrial-building-sales-august-2022\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Top 5 NYC Industrial Building Sales\u2014August 2022\" \/>\n<meta property=\"og:description\" content=\"PropertyShark collected the top deals of the month for the sector.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/top-5-nyc-industrial-building-sales-august-2022\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2022-09-29T13:17:59+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T07:37:26+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/09\/1022_CPE_PS_industrial.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"266\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"the Editors of Commercial Property Executive\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/top-5-nyc-industrial-building-sales-august-2022\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/top-5-nyc-industrial-building-sales-august-2022\/\",\"name\":\"Top 5 NYC Industrial Building Sales\u2014August 2022 - 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