North River Company Acquires Life Sciences Asset In Long Island City For $34.5M

The property asset involved in this transaction is a life sciences facility located at 30-02 48th Avenue in the Long Island City market. The sale price of the property was $34,500,000, encompassing a total square footage of 179,369, which translates to a price per square foot of $192.

Summary of transaction details:

• Property Type: Life Sciences
• Transaction Amount: $34,500,000
• Address: 30-02 48th Avenue
• Market: Long Island City
• Square Footage: 179,369
• Price per Square Foot: $192
• Buyer: North River Company
• Seller: Alexandria Real Estate Equities
• Brokers: Adam Spies, Daniel O'Brien, Joshua (Josh) King, Adam Doneger & Felton Hatcher - Newmark

The deal was facilitated by a team from Newmark, consisting of Adam Spies, Daniel O'Brien, Joshua (Josh) King, Adam Doneger, and Felton Hatcher, who represented the seller in this transaction. The agreement was finalized on December 19, 2025.