Mayer Malbin Acquires Industrial Property In Woodside, Queens For $22.8M

Located in Woodside, Queens, this industrial property at 62-25 30th Ave was recently sold in a closed transaction. The 1-story building spans 41,000 square feet, with an additional 25,600 square feet of land, bringing the total lot size to 66,600 square feet. The property was sold for a total of $22,750,000, resulting in a blended price per square foot of $341. The sale was facilitated by Brian Jaffe, a representative from Jaffe Realty, on behalf of the buyer Dan Gordon from Mayer Malbin and the seller Chris Barry from LSC Development. It is worth noting that Mayer Malbin intends to utilize the entire site for their plumbing supplies business, while also planning to sell one of their buildings in Sunnyside/LIC. For more information, interested parties can contact Jaffe Realty, LLC.

Summary of transaction details

• Property Type: Industrial
• Transaction Amount: $22,750,000
• Address: 62-25 30th Ave, Woodside, Queens
• Market: Woodside, Queens
• Square Footage: 41,000 SF (Building), 25,600 SF (Land)

In this deal, Dan Gordon from Mayer Malbin acquired the property from seller Chris Barry of LSC Development. Brian Jaffe, representing Jaffe Realty, played a crucial role in facilitating the transaction. It is interesting to note that the property was previously sold in 2017 for $9,000,000, highlighting the significant increase in value. Mayer Malbin plans to use the entire site for their plumbing supplies business, indicating their interest in expanding their company's operations. Furthermore, they are also planning to sell one of their buildings located on Skillman Ave in Sunnyside/LIC. This transaction demonstrates the dynamic nature of the real estate market and the strategic decision-making of the parties involved.