Top 5 NYC Industrial Building Sales—September 2021

Source: PropertyShark, a Yardi Systems Inc. company

1. 511 Barry St., Bronx
   Sale Price: $119,000,000

Innovo Property Group sold the 139,700-square-foot facility to CenterPoint Properties in late August and the deal closed in early September. The two-story property in Hunts Point is leased to Amazon—the tech giant’s fourth Bronx warehouse is expected to become operational by the end of the year. The building previously traded in 2019 when Innovo acquired the asset for $53 million from Baldor Specialty Foods.

2. 48-02 48th Ave., Queens
   Sale Price: $42,000,000

48-02 48th Ave., Queens 

The transaction marks a portfolio interest sale, which included the property located at 48-15 50th Ave. Totaling 143,600 square feet, the portfolio encompasses five buildings completed in phases between 1939 and 1959. The one- and two-story facilities are situated on a 2.5-acre lot that includes 29 parking spaces. The climate-controlled buildings feature 12 to 15-foot clear heights, fire sprinklers and skylights.

3. 168 Van Dyke St., Brooklyn
   Sale Price: $13,400,000

The 25,400-square-foot warehouse changed hands in a portfolio deal with the 13,000-square-foot facility located at 162 Van Dyke St. The properties include ground-floor warehouse space as well as usable below-grade space, with 13 to 18-foot ceiling on the ground floor and 9-foot ceilings in the basement. The Red Hook facilities are in a qualified opportunity zone, in the Southwest Brooklyn IBZ District, and previously sold in 2007.

4. 18-02 131st St., Queens
   Sale Price: $8,400,000

A private investor sold the 19,350-square-foot College Point warehouse. The new owner secured $6.3 million ins acquisition financing from Flushing Bank. The long-term, permanent mortgage carries a 3.4 percent interest rate and is scheduled to mature in August 2031. Developed in 1972, the one-story facility includes 18,250 square feet of warehouse and 1,100 square feet of office space across five commercial units.

5. 3542 Heathcote Ave., Bronx
   Sale Price: $5,375,000

An entity affiliated with Peartree Auto Wreckers Inc. sold the 1935-built facility along with two adjacent lots located at 3512 Heathcote Ave. and 3530 Heathcote Ave. The buyer completed the transaction with the help of $4 million in acquisition financing. The transaction closed through a foreclosure procedure. The three parcels amount to a combined 1-acre industrial site.