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New York

Dov Hertz picks up Staten Island site for $65M

Developer has plans to build 400K-sf warehouse

Dov Hertz and an aerial of 1900 South Avenue in Staten Island (Photos via Adam Pincus; Google Maps)
Dov Hertz and an aerial of 1900 South Avenue in Staten Island (Photos via Adam Pincus; Google Maps)

One of the city’s most active industrial investors just picked up a big property on Staten Island for $65 million.

Dov Hertz’s DH Property Holdings bought the 45-acre parcel at 1900 South Avenue in the Bloomfield section on Staten Island’s western coast, sources told The Real Deal.

The sprawling property is currently home to an asphalt manufacturer and construction-waste recycling center. But a source familiar with the deal said that Hertz, who recently signed Amazon to a large warehouse space in Red Hook, has plans to develop a warehouse as big as 400,000 square feet on the site.

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Hertz declined to comment. The sellers of the property are Robert and Neil Vanderbilt, descendants of the wealthy railroad family that owned many pieces of property on Staten Island. The Vanderbilts could not be immediately reached for comment.

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A Cushman & Wakefield team of John Alascio, Sri Vankayala, Chuck Kohaut, TJ Sullivan and Emily Johansen represented the buyer.

The property has a waterfront dock, a railroad yard and access to regional highways, putting it within easy reach of nearby shipping terminals and consumers in New York and New Jersey.

Staten Island has become a destination for e-commerce companies looking for large warehouses close to their customers. Amazon has leased more than 2 million square feet about two miles north of Hertz’s new site at the Matrix Global Logistics Park. Ikea has also taken nearly 1 million square feet at the property.

Hertz, meanwhile, has been busy buying up industrial and warehouse properties ever since he left Extell Development a little more than four years ago to launch his own firm.

DH Property Holdings has purchased sites in Sunset Park and Red Hook, where the company recently signed Amazon to more than 300,000 square feet.

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Dov HertzIndustrial Real EstateInvestment SalesStaten Island