Queens’ top sales

The top 10 commercial property sales in Queens in 2019 had a combined value of $1.45 billion, a 3.3 percent decrease from the year prior. Innovo Property Group and Nan Fung Group’s acquisition of 24-02 49th Avenue for $337.5 million was the top sale of the year. The partnership bought out Westbrook Partners’ 90 percent stake in the seven-story, 800,000-square-foot warehouse. Innovo and Nan Fung plan to convert the building’s top two floors to space for life-science tenants, which investors are betting will be drawn to Long Island City thanks to its favorable zoning and building stock, as well as its proximity to Midtown. 

Top Commercial Property Deals in Queens in 2019

124-02 49th AvenueNovember$337.5MInnovo Property Group, Nan Fung GroupWestbrook Partners
255-01 2nd StreetMay$285MTF CornerstoneHDH LLC
346-06 57th AvenueOctober$259.6MPrologisSunCap Property Group
498-09 65th RoadDecember$150MA&E Real EstateKestenbaum family
522-09 41st Avenue, 22-09 Queens PlazaJanuary$80MCriterion GroupPEC Realty Corporation
6 (tie)23-30 Borden AvenueJanuary$75MInnovo Property GroupAtlas Capital Group
6 (tie)31-57 31st StreetMarch$75MHUBB NYC PropertiesMega Contracting Group,
Treeline Companies
848-39 35th StreetJanuary$72MNorth River CompanyMetropolitan Realty Associates, TH Real Estate
937-06 36th StreetMarch$58MCollectiveThree Seven Hotel
1029-01 Review AvenueJanuary$57.9MLife StorageAbingdon Square Partners