A joint venture of Goldman Sachs Asset Management and Blumenfeld Development Group is buying an industrial property in the Bronx for $38.5 million. The companies are buying the Hunts Point property from Advantage Wholesale Supply, and they plan to use it as a warehouse for last-mile distribution, according to Pinnacle Realty’s David Junik, who brokered…
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Himmel + Meringoff Properties, which made early bets on Long Island City in the 1980s, has turned its attention to the Bronx and acquired a mixed-use Bronx warehouse for $89 million. A Pinnacle Realty team led by Fred Stein, Decio Baio and George Margaronis represented both sides of the deal. Read more at The Real Deal
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Owner and developer Himmel + Meringoff (H+M) and financier Square Mile Capital Management together have acquired a mixed-use industrial site in the Bronx for $89 million from Sackman Enterprises, according to information from the buyers. Pinnacle Realty represented the seller in the transaction. Sackman had owned the asset for around 30 years, sources said. Read…
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The New York City Department of Transportation is nearing a deal to lease a vacant 92,000-square-foot building at 101 Varick Avenue in East Williamsburg, Brooklyn, Commercial Observer has learned. David Junik and Abraham Lowy of Pinnacle Realty are handling the transaction for the landlord and declined to comment. Read more at Commercial Observer
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