Flex-warehouse startup ReadySpaces has inked a 90,000-square-foot lease at Isaac Chetrit’s industrial loft building in Ridgewood, Queens. Led by co-founders John Zimmerman and Kevin Petrovic, the company has been growing its footprint with long-term leases on or purchasing large Class B and C warehouses. ReadySpaces has more than 20 locations in North America, spanning more…
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Sitex Group has snapped up a 3.37-acre industrial site in Maspeth for about $50 million, more than 10 times what the seller bought it for 17 years ago. The New Jersey-based industrial firm recently closed on the deal to acquire the property at 58-80 Borden Avenue, Pinnacle Realty’s David Junik told The Real Deal. Read more at The…
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Andrew Chung, the CEO and founder of Innovo Property Group, has closed on a 9-acre industrial site in Hunts Point, Bronx, for $102.5 million, Commercial Observer has learned. The site, located at 1110 Oak Point Avenue along the East River waterfront, is home to a 93,000-square-foot warehouse occupied by the New York Expo Center. David Junik of Pinnacle Realty represented both the buyer and…
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Real estate investment firm Madison Capital acquired two adjacent industrial lots in Red Hook for $45 million. The seller of the combined 160,000-square-foot sites at 688 and 702 Court Street was Pearl Realty’s Jack Guttman, according to property records. The parcels are zoned for industrial and manufacturing, with the ability to build nearly 320,000 square feet. PincusCo first…
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