The Real Deal New York

Holy smokes! Hudson Realty Capital offered $30M for former LIC cigar factory

103K sf office building to be marketed as possible resi conversion
By Mark Maurer | Twitter_logo_blue copy April 01, 2015 06:00PM

UPDATED, 1:37 p.m., April 2: A Long Island City warehouse converted from a 19th-century DeNobili cigar factory is now on the market and has received offers for up to $30 million. Hudson Realty Capital, a Flatiron District-based real estate fund manager, has owned the four-story, 102,670-square-foot building at 35-11 and 35-31 9th Street since earlier this year, according to sources familiar with the deal.

Modern Spaces’ Evan Daniel and Edward DiTomasso are marketing the site as a potential residential conversion, given the R5 zoning.

The property, which was built in 1896 and renovated in 2012, has 57 commercial units and two cell towers. There are ceilings as high as 20 feet, and exposed beams and arched windows. The listing includes a vacant lot next to the building of more than 6,000 square feet.

A representative for Hudson Realty Capital declined to comment.

Development sites marketed as residential conversions are all the rage in Long Island City. Citigroup is looking to sell a development site just north of One Court Square with almost 780,000 buildable square feet, as The Real Deal reported.

Claire Moses contributed reporting. 

Correction: A previous version of this story incorrectly identified the owner of the property. It is Hudson Realty Capital.