Uri Mermelstein & Joseph Yushuvayev Acquire Industrial Asset In Whitestone For $12.1M

The Whitestone Assemblage, located at 151-11 6th Road in Whitestone, Queens, has been sold in a closed transaction for a price of $12,100,000. The industrial property has a total footprint of 4.5 acres and 1.5 acres of riparian water rights. With a zoning of M1-1, the site allows for an Industrial Development opportunity of 121,882 buildable square feet. The strategic location of the property provides easy access to JFK and LGA airports, expressways, bridges for truck routes, and the East River by freightliner for seamless access to all five NYC Boroughs and Long Island. This sale reflects the growing demand for Industrial Outdoor Storage (IOS) assets in the NYC market.

Summary of transaction details

• Property Type: Industrial
• Transaction Amount: $12,100,000
• Address: 151-11 6th Road, Whitestone, Queens
• Market: Whitestone
• Buyer: Uri Mermelstein & Joseph Yushuvayev
• Seller: Donna Marie Korth As Receiver
• Brokers: Daniel Abbondandolo & Brian Sarath - Cushman & Wakefield
• Square Footage: 121,882 SF
• Price per Square Foot: $99

The successful sale of The Whitestone Assemblage was facilitated by Daniel Abbondandolo and Brian Sarath from Cushman & Wakefield. Their team is proud of this transaction, which involved a unique industrial outdoor storage asset with significant potential. The property's location and zoning offer valuable opportunities for development and investment. This deal exemplifies the increasing demand for IOS assets in the Northern Queens area, with its convenient access to airports, highways, bridges, and the East River.