Seagis Property Group spends $31M for a trio of East New York warehouses

The properties on Stanley Avenue and Pitkin Avenue span a combined 135K sf

New York /
Oct.October 03, 2017 03:30 PM

Seagis Property Group shelled out about $31 million for three East New York warehouses that boast a combined 135,000 square feet.

Seagis TRData LogoTINY, a Pennsylvania-based owner of industrial properties, has purchased the 22,000-square-foot building at 931 Stanley Avenue for about $5.1 million, the 42,500-square-foot building at 1010 Stanley Avenue for about $9.7 million and the 70,000-square-foot building at 1970 Pitkin Avenue for $16.2 million, according to the company and city records.

The company said it also owns 40 properties near JFK Airport that total 750,000 square feet, and it recently purchased the Airport International Center in Miami for $23.5 million as well.

The East New York properties, which are all vacant, mark Seagis’ first purchases in Brooklyn.

Representatives for Seagis did not respond to requests for comment.

The city rezoned East New York in 2016, and the neighborhood has seen multiple plans for affordable housing buildings since then. These include B&B Urban’s plans for a 10-story building with 100 affordable units on Linwood Street and Monadnock Development’s 21-building complex.


Related Articles

arrow_forward_ios
Family feud for $11M Lundy’s restaurant building boils over
Family feud for $11M Lundy’s restaurant building boils over
Family feud for $11M Lundy’s restaurant building boils over
The rise of e-commerce, fueled by the pandemic, has created unprecedented demand for cardboard-producing facilities. (iStock)
Cardboard demand could fuel an industrial real estate boom
Cardboard demand could fuel an industrial real estate boom
MSCI CEO Henry Fernandez and Real Capital Analytics founder Robert White (MSCI)
MSCI to acquire Real Capital Analytics for $950M
MSCI to acquire Real Capital Analytics for $950M
Donald Trump and the Trump International Hotel & Tower in Chicago (Getty, iStock)
Donald Trump is owed $1M tax refund on Chicago skyscraper
Donald Trump is owed $1M tax refund on Chicago skyscraper
From left: One WTC, Douglas Durst, Donald and Steven Newhouse (iStock, Getty)
Condé Nast pays back rent at One WTC, ending standoff with Durst
Condé Nast pays back rent at One WTC, ending standoff with Durst
Floor & Decor CEO Thomas Taylor and 4 Henry St in Commack (Floor & Decor and Google Maps)
Floor & Decor moving into site of shuttered Target in Commack
Floor & Decor moving into site of shuttered Target in Commack
Mayor Steven Fulop (Getty, iStock)
Jersey City to provide up to $10K more rent relief per tenant
Jersey City to provide up to $10K more rent relief per tenant
Atlas Hospitality Managing Member Raj Guru and Vinod Chand with 711 Seventh Avenue (Atlas, Google Maps)
Atlas plans 401-room hotel at 711 Seventh Avenue
Atlas plans 401-room hotel at 711 Seventh Avenue
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...