Updated Oct 22, 2026
Blake Baird Of Terreno Realty Corporation Acquires Industrial Property In Maspeth For $13.9M
43-22 55th Avenue
$13,900,000
$479/SF
Building Size
29,000 SF
Asset Type
Industrial
Closing
Oct 20, 2026
About this deal
AI
Terreno Realty Corporation acquired a vacant industrial distribution property located at 43-22 55th Avenue in Maspeth, Queens, for $13.9 million. The property spans 29,000 square feet on a 1.4-acre lot and has been valued at approximately $479 per square foot. It features 24 grade-level loading positions and is conveniently situated near I-278 and I-495, with an estimated stabilized cap rate of 6.3%.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $13,900,000
- Address: 43-22 55th Avenue
- Market: Maspeth, Queens
- Square Footage: 29,000
- Price per Square Foot: $479
- Acres: 1.4
- Buyer: Blake Baird - Terreno Realty Corporation
The deal was conducted with Blake Baird representing Terreno Realty Corporation, highlighting the strategic acquisition of the property intended for industrial distribution purposes.
On the Map
$13,900,000
$479/SF
Industrial
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Maspeth 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
1.14%
Cash-on-Cash
-0.33%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93