 |
| 47-37 Austell Place, Long Island City, NY |
 |
| Jeff Julien |
NEW YORK, NY -- Holliday Fenoglio Fowler, L.P. (HFF) announced
it has closed the sale of 47-37 Austell
Place, a four-story office/warehouse building in Long Island City, New
York.
HFF marketed the property
on behalf of the seller, Time Equities.
A partnership consisting of Drake Street Partners, Normandy Real Estate
Partners and GEM Realty Capital purchased the property for $35 million.
Originally developed in
1916, 47-37 Austell Place features high ceiling heights, industrial over-sized
windows, open floor plans, and a fourth floor penthouse with a rooftop terrace
providing views of the Manhattan skyline.
The redeveloped space can
be adapted for multiple uses including creative office, ground floor retail or
event space. 47-37 Austell Place is
situated in Long Island City, bounded by Skillman Avenue to the north and 27th
Street to the south. The property’s
location is a short walk from the Hunters Point 7 train subway and LIRR station
just across the East River from Midtown Manhattan.
The HFF investment sales
team representing the seller was led by managing director Jeff Julien along with senior managing director Eric Anton and associate director David Fowler.
“There was substantial
demand for the property as a value-add office redevelopment,” said Julien. “Due to LIC’s attractive loft warehouse
building stock, transit infrastructure and access to Midtown, it is an
attractive investment profile.”
For a
complete copy of the company’s news release, please contact:
Kristen M. Murphy
Associate Director
HFF | One Post Office
Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 |
Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com
No comments:
Post a Comment