12 Acre Industrial Property Sold In Maspeth

BY JON CRONIN
Staff Writer

A 12 acre site in the industrial section of Maspeth along Newtown Creek was recently bought for $55.8 million.

The industrial site was acquired by Parkwill Management Corporation, a mid-town Manhattan developer, at the beginning of May. The property is located east of the Kosciuszko Bridge between the creek and 57th Avenue.

It once held a copper manufacturing facility until the 1980s by a Phoenix-based mining corporation containing one million buildable square feet in an M3-1 zone.

According to The Real Deal, Alan Cohen and Ben Waller of ABS Partners Real Estate sealed this deal at the beginning of May.

ABS, a Park Avenue firm, has also advertised two other sites abutting the 12 acre site; 42-02 56th Road, which has 193,000 square feet, and 44-02 57th Ave., with 130,000 buildable square feet.

The property 42-02 56th Road sold recently for $8.6 million to Long Island City-based Aniska Realty I LLC, led by Stylianos Aniftos, according to New York Department of State records. The property at 44-02 57th Ave. has yet to sell, per city records, reported The Real Deal.

The mid-town real estate firm advertised the property for the development of warehouse or light manufacturing facilities. The M3-1 zoning district allows for heavy industry use, light manufacturing, distribution, and storage.

The parcel at 42-02 56th Road also traded hands recently, selling for $8.6 million to Long Island City-based Aniska Realty I LLC, led by Stylianos Aniftos, according to New York Department of State records. The property at 44-02 57th Ave. has yet to sell, per city records.

ABS Partners did not immediately return a call for comment on the sale.

Reach Reporter Jon Cronin at (718) 357-7400 x125, jcronin@queenstribune.com or @JonathanSCronin

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