Sitex Acquires Industrial Development Site In Maspeth, Queens For $8.2M

An industrial development site located at 54-12 48th Street in Maspeth, Queens has been sold for $8,200,000. The property boasts a total square footage of 74,500 and is situated in a prime market for industrial development. Sitex, a prominent buyer in the real estate industry, acquired the property in this transaction. The seller's representative in the deal was Stephen R. Preuss Sr.

Summary of transaction details

• Property Type: Industrial Development Site
• Transaction Amount: $8,200,000
• Address: 54-12 48th Street
• Market: Maspeth, Queens
• Buyer: Sitex
• Seller's Representative: Stephen R. Preuss Sr
• Total Square Footage: 74,500
• Price Per Square Foot: $110

This transaction highlights the significance of the collaboration between Sitex and Stephen R. Preuss Sr in the acquisition of the industrial development site. Both parties played a crucial role in negotiating and finalizing the deal, securing a valuable investment opportunity in Maspeth, Queens. The sale price of $8,200,000 reflects the desirability of this property for industrial development. The strong market demand for industrial properties in this area further adds to its appeal.