Fishman, Segall, Goldman and Abrams of RKF broker $40.7 million sale; Represented TIC buyer and seller, 4725-34 Associates, LLC

RKF Investment Sales & Advisory Services has arranged the $40.7 million sale of a 322,390 s/f industrial building located at 47-25 34th St. in Long Island City. A team of brokers from RKF, including its president Jeff Fishman, senior director Brian Segall and analyst Robert Goldman, in addition to RKF associate David Abrams, represented both the buyer and the seller of the building, which is bounded by 47th and 48th Aves. and 34th and 35th Sts. The property was sold by 4725-34 Associates, LLC to two tenants in common (TIC) entities managed by BLDG Management. "The recent surge in residential and hotel development in Long Island City has created a squeeze on the availability of prime industrial space," said Fishman. "This is evidenced by the impressive tenant roster in this high-quality industrial building." Current tenants in the three-story building include Polo Ralph Lauren, Gander and White, and Eleni's Bakery, among others.