NEW YORK CITY—Metropolitan Realty Associates has purchased the former Matsil Bros. building—with equity partner TH Real Estate, an affiliate of Nuveen (the investment management arm of TIAA)—for $55 million. The acquisition marks MRA's second major Long Island City acquisition.
Located at 48-49 35th St., the three-story 246,000-square-foot warehouse was originally built in 1949 and last traded hands nearly 40 years ago. It is currently 79% leased, with international shipping company AirSea Packing as the largest tenant occupying 100,000 square feet.
Jeff Unger and Neil Dolgin of Kalmon Dolgin represented the Matsil family in the sale of 48-49 35th St. Law firm Duval & Stachenfeld provided legal services to the buyers .
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Rayna Katz
Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.
