48-02 48th Avenue
Sunnyside, Queens
Prime Sunnyside Queens Distribution Center Sold
| Asking Pricing | $41,700,000 |
|---|---|
| Type | Distribution Center |
| Neighborhood | Sunnyside, Queens |
Investment Highlights:
Meridian Investment Sales is pleased to present the exclusive offering of 48-02 48th Avenue & 48-15 50th Avenue, two prime, contiguous industrial warehouses situated on over 2.53 acres in the highly desirable enclave of Sunnyside, Queens that can be delivered 100% vacant. The buildings are adjoined and offer frontage on 48th Street, 49th Street, 50th Avenue, and 48th Avenue resulting in protected light/air on all four sides and importantly allowing for ease of egress and increased maneuverability. The unique three-story, sprinklered industrial complex features 143,600 GSF plus a 10,500 SF parking lot with 92,792 SF on the ground floor and partially built second and third floors. In addition, clear ceiling height measurements on the ground floor range from 11′ 6″ to 15′ with column spacing at 25’ X 25’ while floors 2 and 3 offer clear ceiling heights of 11’ 8”. Over the last three years, ownership has spent over $2MM on building-wide improvements that include a partially new roof, upgraded electrical, and installation of two new loading docks. Importantly, ownership recently worked with the city to build a sidewalk along 49th Street and, as a result, were able to develop two additional docks with the potential for more. Overall given the recent renovations, the building is in excellent condition.
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