Alexandria Real Estate Equities Acquires Single Story Warehouse In Long Island City, Queens For $25M

A single-story warehouse with air rights located at 47-50 30th Street in Long Island City, Queens has been sold for a price of $25,000,000. The property spans a total of 52,500 square feet, with a price per square foot of $476. Additionally, the building has a total buildable square footage of 112,200, resulting in a price per buildable square foot of $223. The property is zoned as M3-2, which designates it for manufacturing purposes.

Summary of transaction details

• Property Type: Single Story Warehouse With Air Rights (Opportunity Zone)
• Transaction Amount: $25,000,000
• Price per Square Foot: $476
• Square Footage: 52,500
• Price per Buildable Square Foot: $223
• Buildable Square Footage: 112,200
• Zoning: M3-2

The seller of the property is Robert Adler. On the other side of the transaction, the buyer is Alexandria Real Estate Equities, a prominent player in the real estate industry. The deal was facilitated by the following individuals: Stephen R. Preuss, Cindi Adler, Andreas Efthymiou, Jason Trembicki, and Josh King. They represented their respective parties in the transaction, assisting in the successful sale of the warehouse.