The owner of a 7.3-acre site that houses a 202,000-square-foot Coca-Cola bottling plant in Queens’ Maspeth neighborhood is putting it on the market, sources
told The Real Deal.
The owner, Kaymac Corporation, hired Pinnacle Realty of New York to market the site as a potential development opportunity. Sources familiar with the
site, located near the Long Island Expressway, said it could sell for between $70 million and $75 million.
Pinnacle Realty’s
Decio Baio,
David Junik and
James Tack are representing the owner. The brokers declined to
comment, while Kaymac and Coca-Cola did not respond.
. . .Madison Realty Capital is in contract to purchase a 3.5-acre property in Queens’ Hollis neighborhood for $78 million, sources familiar with the transaction
told The Real Deal. The transaction would give them control of roughly 615,000 square feet of rentable office and industrial space, with tenants such
as French Connection and Gotham Greens. . . .
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Larry Cerullo and Steve Tallides, owners of the popular sports bar and event space Studio Square in Long Island City, sold a nearby office property at
35-01 36th Street for $24 million, or $538 a square foot, sources told The Real Deal. . . .
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Pfizer sold the last remaining piece of its development site at Brooklyn’s Broadway Triangle. Developer Abraham Brach paid $27.5 million for the property
and is planning a residential-and-community facility building for the Orthodox Jewish community, sources told The Real Deal. . . .
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Shibber Khan’s Criterion Group is looking to sell a massive, largely vacant Long Island City development site just a year after buying it, sources
told The Real Deal.
“There is an uptick in demand in Long Island City for office space — from companies looking to relocate and end users that want to purchase their
own headquarters space,” said Pinnacle Realty’s TRData LogoTINY
David Junik, who is marketing the site along
with his colleague
Decio Baio.
Junik added the site could benefit from a residential rezoning
of the area, as a result of the Long Island City Core Neighborhood Planning Study currently being conducted by the Department of City Planning.
. . .
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Rabsky, one of Brooklyn’s most active developers, closed on the purchase of the 3.4-acre site at 101 Varick Avenue for $45 million last week. Display case
manufacturer M. Fried recently vacated the site’s one-story, 92,000-square-foot building, which it had owned and occupied for 25 years. . . .
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Property Markets Group is in contract to acquire a development site with 332,000 buildable square feet along the Gowanus Canal for about $50 million, or
$150 per buildable square foot, sources told The Real Deal. . . .
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Mitchell’sNY, the company that delivers publications like The Real Deal and the New York Times,
is doubling the size of its office space in Long Island City. . . .
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Joe Pirrello’s Rodless Properties, an affiliate of bedspread and comforter manufacturer Rodless Decorations, is putting a 3.5-acre development site in
Queens’ Hollis neighborhood on the market for $95 million, sources told The Real Deal. . . .
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