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Prologis Acquires Development Site In Queens For $265M From SunCap Property Group

Property Image
SOLD
$265,000,000
Douglas (Doug) Harmon
Adam Spies

New York

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Development Site973,000 SF
Sold 01/25/2018
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Property Image
SOLD

Prologis Acquires Development Site In Queens For $265M From SunCap Property Group

4606 57th Ave, Maspeth, NY 11378, USA

See Similar Deals
Development Site973,000 SF
Sold 01/25/2018
Douglas (Doug) Harmon
Adam Spies
the dealplayerscompscontact
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Summary

NEW YORK
Asset Type:Development Site
Price Per Square Foot:$272
Total Square Footage:973,000 SF
Transaction Type:Sale

The development site at 46-06 57th Avenue in New York City's Queens neighborhood has been sold in a closed transaction. The property, owned by SunCap Property Group and represented by CEO Flint McNaughton, has been acquired by Prologis, a leading industrial real estate company. The transaction was facilitated by Adam Spies and Doug Harmon of Cushwake.

Summary of transaction details

  • Property Type: Development Site
  • Transaction Amount: $265,000,000
  • Building Square Footage: 973,000 sf
  • Price per Square Foot: $272
  • Address: 46-06 57th Avenue, New York
  • Market: Queens

The deal, which closed on 01/25/18, involved the purchase of the development site by Prologis. The property spans an area of 973,000 square feet and was sold for a total of $265,000,000. The price per square foot for the property was $272, highlighting the value of the transaction. SunCap Property Group, represented by CEO Flint McNaughton, served as the seller in this transaction. Adam Spies and Doug Harmon of Cushwake played a key role in facilitating the deal.

Players

Adam Spies
Newmark
Adam Spies
260 deals$71.4B volume(212) 841-7500
BROKER
Douglas (Doug) Harmon
Newmark
Douglas Harmon
128 deals$47.3B volume
BROKER
Cushman & Wakefield
Cushman & Wakefield
BROKERAGE
SG
SunCap Property Group
SELLER

Details

SOLD
IMAGE: Hamid R. Moghadam ceo of Prologis, Adam Spies and Doug Harmon of @Cushwake and Flint McNaughton CEO of SunCap Property Group DATE: 01/25/18 ADDRESS: 46-06 57th Avenue CITY: New York MARKET: Queens ASSET TYPE: Development Site PRICE: $265,000,000 BSF: 973,000 sf **** PPBSF: $272 SELLER: SunCap Property Group – Flint McNaughton BUYER: Prologis – […]

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