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45-01 Northern Boulevard

Updated Mar 19, 2026

David Lichtenstein Of Lightstone Group Acquires Industrial Buildings In Astoria For $27.2M
SOLDIndustrial

David Lichtenstein Of Lightstone Group Acquires Industrial Buildings In Astoria For $27.2M

45-01 Northern Boulevard & 34-08 46th Street

$27,200,000

$251/SF

Building Size

54,180 SF

Asset Type

Industrial

Closing

Mar 13, 2026

About this deal

AI

The transaction involved two fully renovated industrial buildings located at 45-01 Northern Boulevard & 34-08 46th Street, in the market of Astoria, Queens. The sale price was $27,200,000, with a total square footage of 54,180 and a per square foot price of $502. Additionally, the assets included 3,240 square feet of air rights.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $27,200,000
  • Square Footage: 54,180
  • Price Per Square Foot: $502
  • Address: 45-01 Northern Boulevard & 34-08 46th Street
  • Market: Astoria, Queens
  • Buyer: David Lichtenstein - Lightstone Group
  • Seller: AB Capstone

David Lichtenstein, representing the Lightstone Group, previously held a lending position on the project before the acquisition. The seller in this transaction was AB Capstone, facilitating the sale of the two industrial properties.

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$27,200,000

$251/SF

Industrial

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Players

Lightstone Group
Lightstone GroupBuyer
AB Capstone
AB CapstoneSeller
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Long Island City Industrial Market Snapshot

Boundary boundary · Industrial · Sale transactions

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Deal FAQ

About $251 per square foot on a published $27.2M for 108,360 square feet (2026).

Browse Long Island City industrial sales on Traded.

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.58%

Cash-on-Cash

-0.17%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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