SOLD
Sitex Group Acquires Industrial Property In Maspeth Queens For $49.5M
5880 Borden Avenue
Industrial
146,700 SF
146,700 SF
Sold 1 year ago
Summary
Sale
NEW YORK
Industrial
146,700 sqft
An industrial property located at 58-80 Borden Ave in Maspeth, Queens has been sold in a closed transaction. The property, spanning 146,700 square feet, was purchased by Sitex Group for a total price of $49,500,000. The deal was facilitated by David Junik, Decio Baio, and James Tack from Pinnacle Realty of New York.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $49,500,000
- Address: 58-80 Borden Ave, Maspeth, Queens
- Market: Maspeth
Pinnacle Realty of New York represented the sellers in this transaction, which involved the sale of a 3.37-acre last-mile distribution site. The property's sale price translates to approximately $337 per square foot. The successful sale highlights the attractiveness of industrial assets in the Maspeth market, as Sitex Group recognized the potential of this property for their investment portfolio.
Players
All
4
Agents
3
Agencies
1
Details
SOLD
IMAGE: Decio Baio, David Junik & James Tack
DATE: 10/29/2021
ADDRESS: 58-80 Borden Ave.
MARKET: Maspeth
ASSET TYPE: Industrial
BUYER: Sitex Group
BROKERS: David Junik (https://www.linkedin.com/in/davidjunik), Decio Baio & James Tack - Pinnacle Realty of New York (https://www.linkedin.com/company/pinnacle-realty-of-new-york-llc)
SALE PRICE: $49,500,000
SF: 146,700 ~ PPSF: $337
NOTE FROM BROKER: Pinnacle Realty of New York has sold 3.37 acres last mile distribution site in Maspeth Queens to Sitex Group for $49.5.5 millionView on map
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Address5880 Borden Avenue
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