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Deal for pizza-pan manufacturer rounds out last week’s mid-market sales
Queens saw two $10M-$30M deals last week; the Bronx saw one
The outer-boroughs continue to dominate the middle of the investment-sales market, with the only deals last week between $10 million and $30 million seen in Queens and the Bronx.
A manufacturer of restaurant equipment sold in Hunts Point, while a retail development took shape in Maspeth and a California developer scooped up a bankrupt residential development in Flushing. Here are details of mid-market i-sales for the week ending Oct. 9.
1) California-based J&C International Group purchased a portfolio of 11 mixed-use buildings totalling 77,241 square feet, with a combined 61 residential units, for $28.1 million on Haight Street in Flushing. A bankruptcy trustee was listed as the seller, following Chapter 11 proceedings which began in June 2019 against previous owner, 41-23 Haight Street Realty, Inc.
Two separate transactions took place. In one, J&C purchased 41-31 Haight Street, for $9.5 million. In the other, the firm purchased the following parcels for $18.6 million: 41-09, 41-11, 41-13, 41-15, 41-17, 41-19, 41-21, 41-23, 41-25 and 41-27 Haight Street.
2) Bridges Development Group purchased two vacant lots at 59-11 and 59-19 Maurice Avenue in Maspeth for $10 million. Michael Berfield signed as the buyer for the limited liability company Maurice Avenue Shoppes. The seller was Home Depot.
In June, a new building permit was approved for a 136,084-square-foot commercial building at 59-19 Maurice Avenue, a location of future retail shops, according to Berfield. Home Depot is building an adjacent store at 59-15 Maurice Avenue.
3) UniFirst, a maker of work uniforms, purchased a 58,000-square-foot industrial building at 1290 Viele Avenue in Hunts Point for $14.5 million from Allied Realty Co. LLC. Arlene Saunders signed as the seller. She is president of Allied Metal Spinning, a manufacturer of restaurant equipment which began as a pizza-pan maker.