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Prologis Acquires Industrial Property On Grand Avenue In Maspeth, Queens For $51M

48-00 Grand Avenue
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This Industrial property located in NY was sold for $51,000,000 over 3 years ago. The brokers of the deal were Jay Gilbert and Ben Carlos Thypin

Prologis, a leading industrial real estate company, has acquired an industrial property located at 48-00 Grand Avenue in Maspeth, Queens. The property, with a total square footage of 446,176, is zoned as M3-1, making it suitable for industrial use. The transaction took place on November 13, 2020, with a sale price of $51,000,000.

Summary of transaction details

  • Property Type: Industrial
  • Transaction Amount: $51,000,000
  • Address: 48-00 Grand Avenue, Maspeth, Queens
  • Market: Maspeth, Queens

The seller, Family Radio, worked with the real estate agency Quantiera to find the right purchaser for the property. Prologis, represented by Hamid Moghadam, emerged as the buyer, providing Family Radio with both continuity of operations and certainty of closing within a challenging market environment. The purchaser has plans to utilize the property for parking and storage purposes.

For more information about this transaction or similar deals, please contact Ben Carlos Thypin directly at Ben@Quantierra.com or visit Quantiera's Instagram page @Quantierra_.

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Deals
  • Location
    4800 Grand Avenue, Maspeth, NY 113784800 Grand Avenue, Maspeth, NY 11378
  • Sale Price
    $51,000,000$51,000,000
    $114 PPSF$114 PPSF
  • Area
    446,176 SF446,176 SF
  • Asset Type
    IndustrialIndustrial
  • Parties
    2 Brokers, 1 Agency2 Brokers, 1 Agency

Agents

Jay Gilbert

Jay Gilbert

Deals2
Sold$51M

Agency

Quantierra

Quantierra

Agency
Deals14
Volume$200.7M

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Deal Summary

SALE IMAGE: Hamid Moghadam DATE: 11/13/2020 ADDRESS: 48-00 Grand Avenue MARKET: Maspeth, Queens ASSET TYPE: Industrial ~ ZONING: M3-1 BUYER: Prologis - Hamid Moghadam SELLER: Family Radio BROKERS: Ben Carlos Thypin (@BThypin) & Jay Gilbert - @Quantierra_ PRICE: $51,000,000 BSF: 446,176 ~ PPBSF: $114 NOTE: @Quantierra_ sourced the property using its proprietary algorithms and worked with Family Radio to find the right purchaser that could provide Family Radio with both continuity of operations and certainty of closing within this challenging market environment. The purchaser plans to rent out the property as parking and storage. For more info, or similar deals, please contact Ben Carlos Thypin directly: 📧 [email protected] 📸 @Quantierra_

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