Canyon Partners Purchases Three Industrial Properties In Astoria Queens For $24.2M

The industrial properties involved in the transaction are located at 35-45 41st Street, 35-38 41st Street, and 35-53 41st Street in Astoria, Queens. The sale price for the properties was $24,200,000, encompassing a total square footage of 39,450 with a price per square foot of $613.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $24,200,000
• Buyer: Josh Friedman & Mitch Julis - Canyon Partners
• Seller: Matthew Schwartz & Chris Papamichael - Domain Companies
• Total Square Footage: 39,450
• Price Per Square Foot: $613

Canyon Partners, represented by Josh Friedman and Mitch Julis, acquired a significant stake in these three industrial properties from Domain Companies, represented by Matthew Schwartz and Chris Papamichael. This transaction marks a notable investment strategy, with Canyon Partners and BLDG Management acquiring a combined 65.43% stake in the portfolio, valued at approximately $37 million.