Sitex Group Acquires Industrial Property In Greenpoint From 360 Kingsland Ave Realty LLC For $30M

The industrial property located at 360 Kingsland Avenue in Greenpoint has been sold in a recent transaction. The property is characterized by its zoning classification of M3-1 and covers an area of 77,160 square feet. Situated on a lot with dimensions of 20 feet by 611.21 feet, the property offers ample space for industrial operations. The transaction took place between the buyer, Sitex Group, and the seller, 360 Kingsland Ave Realty LLC. The deal was facilitated by brokers Dan Marks and Daniel Lebor from TerraCRG. The sale price for the property was $30,000,000.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $30,000,000
• Market: Greenpoint
• Zoning: M3-1
• Buyer: Sitex Group
• Seller: 360 Kingsland Ave Realty LLC
• Brokers: Dan Marks & Daniel Lebor - TerraCRG

The property has a built square footage (BSF) of 154,320, resulting in a price per BSF of $194. The total square footage (SF) of the property is 7,716, with a price per SF of $3,888. The FAR (Floor Area Ratio) for the property is 0.10, indicating the proportion of the lot's buildable area. The property is classified under tax class 4. Notably, the property was subject to an alteration permit on September 27, 2018.