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LIC Industrial Bldg Sells for $40.7M

RKF Arranges Sale, Yields $145 Per SF
February 13, 2013
The 601W Companies sold the industrial building located at 47-01 47-59 34th St. in Long Island City to two Tenants in Common for $40.7 million, or about $126 per square foot.

The 322,390-sqaure-foot, multi-tenant industrial building was built in 1924 and underwent a renovation in 2004. Current tenants include Polo Ralph Lauren, Gander and White, and Eleni's Bakery, among others. It is located in the Northwest Queens Industrial submarket.

Jeff Fishman, Brian Segall, Robert Goldman, and David Abrams of RKF Investment Sales & Advisory Services represented both the buyer and seller in the deal.

For more information regarding this transaction, please see CoStar COMPS #2674530.
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