A vacant 12-acre parcel and two other development sites in Maspeth, Queens, hit the market for a combined $70 million.
The sites are located next to wholesale food supplier Restaurant Depot at 4340 57th Avenue and just east of the Kosciuszko Bridge. In addition to the 12-acre site, the other parcels span 2.2 acres and 1.5 acres. Collectively, the sites offer 1.3 million square feet of buildable square feet.
ABS Partners’ Alan Cohen and Ben Waller are marketing the land for the development of warehouses or facilities for light manufacturing, Crain’s reported. Cohen and Waller said they expect the properties to be sold separately.
“We think there is huge demand for development sites like this right now as other former industrial neighborhoods in the city being converted to other uses such as hotel and office and industrial businesses are being pushed out,” Waller told the publication. [Crain’s] — Mark Maurer