Prologis Acquires Industrial Dev. Site In Long Island City For $35M

The industrial development site located at 38-21 12th St. in Long Island City has been sold for a total price of $35,000,000. The property is zoned as M1-3, making it suitable for industrial use. It spans a total square footage (BSF) of 351,000, providing ample space for development. The price per square footage (PPBSF) is approximately $99. The transaction was completed on November 3, 2021, between the buyer, Prologis, and the seller, TF Cornerstone. The deal was facilitated by brokers Isaac Setton and Bunny Escava from KSR.

Summary of transaction details

• Property Type: Industrial Dev. Site
• Transaction Amount: $35,000,000
• Address: 38-21 12th St.
• Market: Long Island City
• Zoning: M1-3
• BSF: 351,000
• PPBSF: $99

Isaac Setton and Bunny Escava from KSR were the brokers who represented the buyer and seller in this transaction. It is worth noting that the previous sale of the property took place in January 2018, with a sale price of $25,500,000.