Steve Millstein & Eli Millstein Of The STRO Companies And John Kushner Of The KRE Group Acquire Industrial Portfolio For $19.87M In Elmwood Park

The transaction involved the sale of an industrial property located at 5 & 30 Paul Kohner Place in Elmwood Park, with a total area of 120,000 square feet situated on 7.4 acres. The sale price was recorded at $19,870,000, resulting in a price per square foot of $165.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $19,870,000
• Address: 5 & 30 Paul Kohner Place
• Market: Elmwood Park
• Square Footage: 120,000
• Price per Square Foot: $165
• Buyer: Steve Millstein & Eli Millstein - The STRO Companies; John Kushner - The KRE Group
• Seller: Penn Color Inc.
• Seller's Representative: Kalmon Dolgin

The buyers, Steve Millstein and Eli Millstein from The STRO Companies and John Kushner from The KRE Group, have plans for a significant capital improvement program for the property. Their focus is on two primary assets; one is a Class A industrial outside storage facility of 20,000 square feet, and the other is a 60,000 square foot building featuring 20' clear heights and 5 loading docks, among other specifications. The outside storage facility will be available for lease, while the larger building will be offered for sale or lease.