Industrial building at 47-25 34th Street in LIC sold for $40.7 million

The New York Real Estate Journal Network reports that a 322,390 square foot industrial building in LIC has been sold for $40.7 million. The building is located at 47-25 34th Street, near the western border of Sunnyside (GMAP). The company that arranged the sale, RKF Investment Sales & Advisory Services, notes there has been “a squeeze on the availability of prime industrial space” because of hotel and residential development in the area. Current tenants in this building, deemed “impressive,” include include Polo Ralph Lauren, Gander and White, Eleni’s Bakery, and others.

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