Himmel & Meringoff snaps up LIC warehouse for $25M

Firm owns another warehouse nearby

TRD New York /
Jun.June 15, 2017 05:45 PM

Leslie Himmel and 21-07 41st Avenue

Himmel & Meringoff Properties TRData LogoTINY has scooped up a 127,000-square-foot office and warehouse building in Long Island City for $25 million.

The firm just purchased 21-07 41st Avenue from Daniel Geoly, Crain’s reported. Leslie Himmel, co-managing partner at Himmel & Meringoff, told the website that the building will likely lure tech and science tenants once the nearby Cornell Tech campus opens on Roosevelt Island.

The deal expands the firm’s Queens portfolio, which includes a 200,000-square-foot building at 34-02 Queens Boulevard that the company bought in 1986.

“People always ask me, ‘how did you know to buy in Long Island City in the 1980s?’,” Himmel said. “We like to buy in emerging neighborhoods that we believe have upside.”

Most of the building is already leased up, but the firm is looking for tenant(s) to fill the 11,000 square feet of retail space available on the ground floor. [Crain’s] — Kathryn Brenzel

(To view more commercial sales transactions in Long Island City, click here)


Related Articles

arrow_forward_ios
An example of roll-off waste management (Credit: YouTube, iStock)

Big building owners prevent city from dumping container-pickup in trash-collection reform

“I can talk about erections all day”: NAR tech consultant’s bizarre fireside chat

Council member Vanessa Gibson (Credit: New York City Council)

Commercial landlords face new fines as City Council passes anti-harassment bill

As House begins impeachment inquiry, here’s what we know about Trump’s Ukraine-real estate ties

Embattled Prodigy Network CEO Rodrigo Niño to step down

The Watchtower building at 25 Columbia Heights, CIM Group’s Shaul Kuba (right) and LIVWRK’s Asher Abehsera (Credit: Wikipedia, CIM Group, and LinkedIn)

JPMorgan leads $335M refi for CIM and LIVWRK’s Watchtower renovation

Multifamily market still reigns in Queens, Blackstone balks after rent reforms and more of the biggest CRE trends right now

Real estate titans … and their toys

arrow_forward_ios