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Brokerage
Posted: December 11, 2012
Modell of Ariel and Hornstock of ABS Partners handle $5.75 million sale
Randy Modell, vice president of Ariel Property Advisors, and Steven Hornstock, a partner with ABS Partners Real Estate, have brokered the sale of a development site at 3019 Northern Blvd. in Long Island City for $5.75 million. The transaction originated when Modell was with ABS Ptrs.
Modell and Hornstock represented the seller, a private owner who previously ran a medallion (yellow) taxicab business from the site, and the buyer, Storage Deluxe, which operates self-storage facilities in Brooklyn and Queens. Zoning for the site will allow Storage Deluxe to construct a self-storage facility with 120,000 buildable s/f.
"The site's close proximity to the Upper East Side via the 59th St. Bridge makes it a ideal location for a self-storage facility," Modell said.
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