Updated Mar 19, 2026
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.
Players
Long Island City Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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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