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718-784-8282

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Emmes Turning Factory District Loft Into Mixed-use Complex

Emmes Turning Factory District Loft Into Mixed-use Complex

By

Carolina Bergara

February 18, 2015

Emmes Asset Management, together with one of its U.S. pension fund clients, acquired a vacant four-story industrial loft building at 47-16 Austell Place in the Factory District of Long Island City, Queens for approximately $13.5 million.

Emmes is implementing a multi-million dollar capital improvement program, repositioning the former storage and distribution center into a multi-tenanted commercial complex with ground floor retail and local artisanal uses.

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Pinnacle Realty of New York represented the seller and the team of Cushman & Wakefield / JRT Realty Group, Inc. has been engaged to lease the building.

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Astoria Brooklyn Commercial Observer Crain's New York Business For Lease For Sale Hot Property Long Island City PincusCo Queens Real Deal Real Estate Agent Real Estate Weekly The Bronx The New York Times Top Seller

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