GREINER-MALTZ BROKERS SECOND NORTHERN BLVD.
LOFT DEVELOPMENT SITE IN LONG ISLAND CITY, NY
Long Island City, NY, March 29, 2011 -- Greiner-Maltz has brokered the sale of 30-30 Northern Blvd., in Long Island City to a buyer who just missed out on the purchase of the nearby 310,000 sf, Standard Motors Facility at 37-18 Northern Blvd., which was transacted by Greiner-Maltz in 2008.
30-30 Northern Blvd., or “The Apple Tag Building” as it is more commonly known, is a 5-story, 230,000 sf 1930,’s era industrial loft building, having 650,000 sf of development rights.
In keeping with the property’s soon to be renovated Queens Plaza surroundings, the purchaser, ALMA Realty, will renovate the building for retail and office use, and plans to add two additional floors to the current structure. The balance of the development area is planned for educational and exhibition space. Kostas Alafoyiannis and John Maltz of Greiner-Maltz represented both the purchaser and the seller, and are the exclusive agents for all available space in the property until the development plans are completed.
This transaction was completed at a price of $21,500,000, or approximately $33.00 psf of developable area.
For more information on this Greiner-Maltz property or any other available properties in the NY, NJ, or LI Metropolitan area please call Kostas Alafoyiannis or John Maltz at 718-786-5050 or visit our Website at www.greinermaltz.com.
About Greiner-Maltz
Since 1953 Greiner-Maltz has been engaged exclusively in the leasing, selling, appraising and managing of industrial, commercial, and investment property in Manhattan, Brooklyn, Queens, Long Island, New Jersey, Westchester, and Connecticut. The firms five offices are actively managed by Principals: John Maltz and Sharone Levy in Brooklyn and Queens; Swain Weiner, metro area investments; Tom Attivissimo in Long Island, Raymond Musalo in New Jersey, and Ayall Schanzer in Westchester. www.GreinerMaltz.com