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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Partners at Pinnacle Realty, David Junik and Decio Baio, recently brokered a deal with Steel Equities. The Long Island-based real estate investment firm bought another warehouse in Bushwick, Brooklyn. The company picked up the 44,660-square-foot 121 Morgan Avenue from Joseph Brunner and Abe Mandel’s Bruman Realty in a deal that closed on Dec. 31, 2020….
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Andrew Chung’s Innovo Property Group is making another big bet on an industrial project in the Bronx. The plan would be a windfall for owners Joshua and Jack Guttman, whose company, Pearl Realty Management, bought the site for $24 million in 2016. The Guttmans would remain part of the project as a lender. Jack Guttman did…
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