NEW YORK CITY – Innovo Property Group, a New York City-based real estate investment and operating company, has acquired 511 Barry St., a 140,000-square-foot warehouse in the Hunts Point neighborhood of the Bronx for $54 million. Granite Point Mortgage Trust Inc., a Pine River Capital managed company, loaned $46 million for the acquisition. 511 Barry…
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Pinnacle Realty of New York announced the following transaction. The prolific industrial real estate investor Innovo Property Group has made a $55 million purchase in the Bronx. The firm is in contract to acquire 511 Barry St., a roughly 135,000 square foot refrigerated warehouse in Hunts Points that could cater to the concentration of food-related…
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A joint venture of Goldman Sachs Asset Management and Blumenfeld Development Group is buying an industrial property in the Bronx for $38.5 million. The companies are buying the Hunts Point property from Advantage Wholesale Supply, and they plan to use it as a warehouse for last-mile distribution, according to Pinnacle Realty’s David Junik, who brokered…
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Himmel + Meringoff Properties, which made early bets on Long Island City in the 1980s, has turned its attention to the Bronx and acquired a mixed-use Bronx warehouse for $89 million. A Pinnacle Realty team led by Fred Stein, Decio Baio and George Margaronis represented both sides of the deal. Read more at The Real Deal
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