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
By Eddie Small | October 03, 2017 03:30PM

From left: 931 Stanley Avenue, 1010 Stanley Avenue and 1970 Pitkin Avenue (Credit: Google Maps)

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.