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Brokerage
Posted: March 14, 2023
Cushman & Wakefield arranges $12.1 million sale of The Whitestone Assemblage
Whitestone, NY Cushman & Wakefield has arranged the sale of The Whitestone Assemblage for $12.1 million. Whitestone Assemblage is located at 151-11 6th Rd., the site is an industrial outdoor storage (IOS) asset with a total lot footprint of 4.6 acres, including 1.5 acres of riparian water rights.
Cushman & Wakefield’s Daniel Abbondandolo, Robert Kuppersmith and Joegy Raju represented the seller in the transaction. Brian Sarath, also of Cushman & Wakefield, represented the buyer, Top Rock Holdings. Donna-Marie Korth, Esq, of Certilman Balin Adler & Hyman, LLP, acted as court appointed receiver.
Comprised of six individual tax lots, the site is zoned M1-1 permitting an industrial development opportunity of 121,882 buildable s/f. The property is leased to 12 separate tenants all on a short-term basis.
“This unique industrial outdoor storage asset offers tremendous upside with the ability to capitalize on the unprecedented growth of IOS assets throughout the New York City market,” said Abbondandolo. “The asset is strategically located around major transportation corridors, with the ability to also utilize New York City waterways for freight deliveries.”
The property’s strategic location offers easy access to JFK and LGA airports, expressways and bridges for truck routes and the East River by freightliner for seamless commuting to all five New York City boroughs and Long Island.
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