Madison Development picks up pair of East New York dev sites

The parcels house one-story industrial buildings

New York /
May.May 11, 2018 03:30 PM
578 Cozine Avenue and Adam Gordon

578 Cozine Avenue and Adam Gordon (Credit: LinkedIn)

Storage company Madison Development has purchased two sites in East New York for $25.3 million, according to property records filed with the city Friday.

The sites at 554 and 578 Cozine Avenue span two full city blocks, and they both contain one-story industrial buildings, which are not adjacent. Madison Development bought them from investor Lewis Gantman.

Adam Gordon, managing partner at Madison Development, said his company will demolish the two buildings and use the sites for last-mile industrial warehouse space for e-commerce companies like Amazon.

Madison Development made a pair of deals with Prime Storage Group late last year, selling the company a self-storage facility at 1098 Rockaway Avenue in Canarsie for $53 million and a self-storage facility at 31-07 20th Avenue in Astoria for $94 million.


Related Articles

arrow_forward_ios
Hamptons businesses desperate for workers
Hamptons businesses desperate for workers
Hamptons businesses desperate for workers
(iStock)
Job recovery sputters, but hospitality & leisure add hiring
Job recovery sputters, but hospitality & leisure add hiring
Cushman & Wakefield CEO Brett White (Cushman)
Cushman eyeing M&A opportunities post-pandemic
Cushman eyeing M&A opportunities post-pandemic
Andrew Yang (Getty, iStock)
Yang targets vacant lots with $900 million tax plan
Yang targets vacant lots with $900 million tax plan
Ron Burkle and Andrew Zobler with The NoMad New York. (Google Maps, Getty)
NoMad Hotel heads back to the auction block
NoMad Hotel heads back to the auction block
Donald Trump and 40 Wall Street (iStock, Sterlfilms/Wikimedia)
40 Wall’s valuation chop means tax savings for Trump Org
40 Wall’s valuation chop means tax savings for Trump Org
Google CEO Sundar Pichai (Getty, iStock)
Google’s hybrid model will allow 20% of employees to work remotely
Google’s hybrid model will allow 20% of employees to work remotely
Illustration of Amazon's Jeff Bezos (Photo illustration by Kevin Rebong for The Real Deal)
No room in the warehouse: Amazon fuels shortage
No room in the warehouse: Amazon fuels shortage
arrow_forward_ios

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

Loading...