Steve Panos Acquires Maspeth Warehouse From Lewis Gantman For $132M

A warehouse in Maspeth, Queens has been sold for a price of $132,000,000. The property, located at 50-35 56 Road, is zoned as M1-1 and has a total square footage of 140,000. The building has a buildable square footage (BSF) of 224,865, resulting in a price per buildable square footage (PPBSF) of $587. The price per square footage (PPSF) stands at $943. The lot size is 224,865, with dimensions of 866 ft x 300 ft. The property falls under tax class 4 and boasts a floor area ratio (FAR) of 0.62.

Summary of transaction details

• Property Type: Warehouse
• Transaction Amount: $132,000,000
• Market: Maspeth, Queens
• Address: 50-35 56 Road
• Zoning: M1-1
• BSF: 224,865
• PPBSF: $587
• SF: 140,000
• PPSF: $943
• FAR: 0.62
• Tax Class: 4
• Lot Size: 224,865
• Lot Dimension: 866 ft x 300 ft

The buyer, Steve Panos, acquired the property from the seller, Lewis Gantman. The previous sale of the property took place on June 29, 2006, for a price of $13,500,000.