Whitestone, NY – Cushman & Wakefield announced today that the real estate services firm has arranged the sale of The Whitestone Assemblage for $12,100,000. Located at 151-11 6th Road in Whitestone, the site is an industrial outdoor storage (IOS) asset with a total lot footprint of 4.6 acres, including 1.5 acres of riparian water rights.
Cushman & Wakefield’s Daniel Abbondandolo, Robert Kuppersmith and Joegy Raju represented the seller in the transaction. Brian Sarath, also of Cushman & Wakefield, represented the buyer, Top Rock Holdings. Donna-Marie Korth, Esq, of Certilman Balin Adler & Hyman, LLP, acted as court appointed receiver.
“This unique industrial outdoor storage asset offers tremendous upside with the ability to capitalize on the unprecedented growth of IOS assets throughout the New York City market,” said Abbondandolo. “The asset is strategically located around major transportation corridors, with the ability to also utilize New York City waterways for freight deliveries.”
Comprised of six individual tax lots, the site is zoned M1-1 permitting an industrial development opportunity of 121,882 buildable square feet. The property is leased to 12 separate tenants all on a short-term basis.
The property’s strategic location offers easy access to JFK and LGA airports, expressways and bridges for truck routes and the East River by freightliner for seamless commuting to all five New York City boroughs and Long Island.
About Certilman Balin
Certilman Balin Adler & Hyman, LLP is Long Island’s second largest full-service law firm with offices in Nassau and Suffolk Counties. Its 15 practice areas include: real estate, real property tax certiorari and condemnation, cooperative and condominium, land use and zoning, environmental law, corporate/securities, litigation, banking and commercial lending, labor relations/employment law, bankruptcy and debtor/creditor rights, nonprofit/tax exempt and religious organizations, trusts and estates, elder law, telecommunications law and mediation. For further information, visit www.certilmanbalin.com.
Cushman & Wakefield Arranges $12.1M Sale of The Whitestone Assemblage
Jayden Lapin-Tatman • 2/21/2023
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global commercial real estate services firm for property owners and occupiers with approximately 52,000 employees in nearly 400 offices and 60 countries. In 2023, the firm reported revenue of $9.5 billion across its core services of property, facilities and project management, leasing, capital markets, and valuation and other services. It also receives numerous industry and business accolades for its award-winning culture and commitment to Diversity, Equity and Inclusion (DEI), sustainability and more. For additional information, visit www.cushmanwakefield.com.
Cushman & Wakefield (NYSE: CWK) is a leading global commercial real estate services firm for property owners and occupiers with approximately 52,000 employees in nearly 400 offices and 60 countries. In 2023, the firm reported revenue of $9.5 billion across its core services of property, facilities and project management, leasing, capital markets, and valuation and other services. It also receives numerous industry and business accolades for its award-winning culture and commitment to Diversity, Equity and Inclusion (DEI), sustainability and more. For additional information, visit www.cushmanwakefield.com.