The Real Deal New York

Cosmetics maker asking $65M for Sunnyside warehouse

Mana's 215K sf property at 27-11 49th Avenue sits on a 2.5-acre site

July 31, 2015 05:55PM
By Mark Maurer Twitter_logo_blue copy


27-11 49th Avenue in Sunnyside (inset: Mana Products CEO Nikos Mouyiaris)

Mana Products is looking to sell a 215,000-square-foot Sunnyside warehouse that sits on a 2.5-acre site for $65 million.

The manufacturer of cosmetics products has owned the three-story storage and distribution facility since 2003, when it paid nearly $10 million. The site, at 27-11 49th Avenue, near 27th Street, offers 75 parking spaces and 21-foot ceiling heights at the building.

Right Time Realty’s Joe Ibrahim and George Raftis are marketing the building as a potential office conversion.

Mana, a Long Island City-based company founded in 1977, wants to sell the property in an effort to acquire and develop an even larger site to house a new facility, Ibrahim said.

In the neighborhood, Lloyd Goldman’s BLDG Management paid $40.7 million for a 322,000-square-foot warehouse at 47-25 34th Street in 2013.