Bluestone, Altmark nab Bronx factory building for $44M

Eli Tabak's firm has been an active buyer in Bronx of late

TRD New York /
Jun.June 16, 2016 09:00 AM

A joint venture between Eli Tabak’s Bluestone Group and the Altmark Group has purchased a 235,584-square-foot industrial factory building in the Bronx for $44 million, sources told The Real Deal.

The property, at 825 East 141st Street, had been owned by the National Equipment Corporation out of the Bronx since the 1960s, records show.

The sale price amounts to approximately $186 per square foot for the seven-story building, which had been used to store packaging machinery.

Yosef Katz of GFI Realty Services, the broker on the transaction, declined to comment or confirm the deal.

Bluestone and Altmark’s plans for the property were not immediately clear. A spokesperson for the firm was not immediately available.

The companies have been active buyers in the Bronx in recent months. They recently closed on a deal to buy a Mott Haven warehouse spanning an entire block along Willow Avenue, between East 134th and 135th streets, for $14.1 million alongside Tabak’s brother Joseph Tabak’s Princeton Holdings.


Related Articles

arrow_forward_ios
GFI and Marx raise north of $60M apiece in Tel Aviv bond offerings

GFI and Marx raise north of $60M apiece in Tel Aviv bond offerings

The Bluestone Group's Eli Tabak and 90-02 Queens Boulevard (Credit: Eli Tabak)

Bluestone buys Queens building for $85M at foreclosure auction

Bank OZK finances GFI, Elliott Management’s Parker New York buy

Bank OZK finances GFI, Elliott Management’s Parker New York buy

GFI, All Year admit errors on TASE docs, furthering anxiety about broader American bond crisis

GFI, All Year admit errors on TASE docs, furthering anxiety about broader American bond crisis

GFP and Northwind have big plans and a tenant to match for FiDi office tower

GFP and Northwind have big plans and a tenant to match for FiDi office tower

Tahl Propp, NYC Partnership Housing land $162M loan for pair of Harlem buildings

Tahl Propp, NYC Partnership Housing land $162M loan for pair of Harlem buildings

Day in the life of: Everard Martin

Day in the life of: Everard Martin

5 Beekman, Allen Gross and Fredrik Eklund

After a few years, 5 Beekman nears sellout

arrow_forward_ios