Emmes Asset Management, together with one of its U.S. pension fund clients, acquired a vacant four-story industrial loft building at 47-16 Austell Place in the Factory District of Long Island City, Queens for approximately $13.5 million. Emmes is implementing a multi-million dollar capital improvement program, repositioning the former storage and distribution center into a multi-tenanted…
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A local affiliate of the International Brotherhood of Teamsters labor union is looking to sell a development site near 5Pointz in Long Island City that offers just shy of 76,000 buildable square feet, The Real Deal has learned. The union is asking $29 million. The lot, which Pinnacle Realty’s Decio Baio and David Junik are…
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One of New York City’s longest-standing rivalries, between Eastdil Secured and CBRE for the lead in investment sales, now appears to be on ice. A new ranking this month by The Real Deal of New York City’s top investment sales firms for 2014 reveals a yawning gap between the two top firms. In 2014, Eastdil…
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Updated, 12:06 p.m., Nov. 26: The owner of a Long Island City yellow-cab company has brought on The Lightstone Group a joint venture partner to develop a 10-story mixed-use building in the Queens Plaza North neighborhood, The Real Deal has learned. Theodore Strauel, owner of the Team Systems Corp. taxi company, filed an application with…
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