Updated Oct 15, 2026
SOLDIndustrial
Matthew Schwartz Purchases Industrial Development In Astoria From Mayer Malbin For $37M
3545 41st Street, 3533 41st Street & 3542 41st Street
$37,000,000
$948/SF
Building Size
15,767 SF
Asset Type
Industrial
Closing
Aug 4, 2025
About this deal
AI
The transaction involves a multi-parcel assemblage located at 3545 41st Street, 3533 41st Street, and 3542 41st Street in Astoria, characterized as an industrial/development asset. The properties span a total of 39,003 square feet, with a sale price of $37,000,000, resulting in a price per square foot of $948.64.
Summary of transaction details:
- Property Type: Industrial / Development
- Transaction Amount: $37,000,000
- Square Footage: 39,003
- Address: 3545 41st Street, 3533 41st Street & 3542 41st Street
- Market: Astoria
- Buyer: Matthew Schwartz
- Seller: Mayer Malbin
- Brokers: Theo Kontis & Vincenzo Amato - TEK Realty Advisors LLC; Brian Jaffe - Jaffe Realty LLC
TEK Realty Advisors LLC and Jaffe Realty LLC were the exclusive listing agents for this transaction, facilitating the sale of the multi-parcel assemblage involving the buyer Matthew Schwartz and seller Mayer Malbin.
On the Map
$37,000,000
$948/SF
Industrial
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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
0.43%
Cash-on-Cash
-0.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93