Wednesday, April 27, 2016

HFF closes $7.8 million sale of 5.12-acre development site near JFK International Airport in New York City

Michael Nachmkin
FLORHAM PARK, NJ –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the $7.8 million sale of the 5.12-acre land tract adjacent to John F. Kennedy (JFK) International Airport in the New York City borough of Queens, New York.

HFF marketed the site on behalf of the sellers, Philips International and Rhodes NY.  Gabrielli Truck Sales Ltd. (Gabrielli) purchased the site.

The project required various state and local approvals from the New York City Economic Development Corporation and the Port Authority of New York and New Jersey.  Gabrielli plans to construct a facility for their use on the site.

JFK International Airport is one of the leading international air cargo centers in the world and home to 18 cargo-only freight carriers, including American Airlines, FedEx, Delta Airlines and China Airlines.

 The site is located at 181-25 Eastern Road in Jamaica, Queens, which is in the Queens County industrial submarket and proximate to both the Belt Parkway and Interstate 678 (JFK Expressway) leading into Manhattan.

 Construction will begin on the industrial development this year.  Prior to this development, there have been few industrial/commercial developments within a three-mile radius of the airport within 30 years. 

Evan Pariser
The HFF investment sales team representing the seller was led by managing director Michael Nachamkin and senior managing director Evan Pariser.

“We were extremely happy with the outcome for both the buyer and seller,” Nachamkin said.  “The purchaser worked extremely hard along with their counsel to obtain all the approvals necessary to develop the site for their needs.”

 For a complete copy of the company’s news release, please contact:

Kristen M. Murphy
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 |

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