Skip to content
  • Industry
    • Residential
    • Office
    • Retail
    • Industrial
    • Hospitality
    • Land
    • Healthcare
    • Life Sciences
    • Special Purpose
    • Mixed-Use
  • Markets
    • Los Angeles
    • New York City
    • Manhattan
    • Queens
    • Bronx
    • National
    • Washington DC
    • South Florida
  • Leases
    • Office Leases
    • Ground Lease
    • Sublease
    • Tenant Talk
    • Deals of the Week
    • All Leases
  • Finance
    • Acquisition
    • CMBS
    • Construction Financing
    • Distress
    • Refinance
    • Deals of the Week
    • All Finance
  • Investments
    • Development Site Sale
    • Portfolio Sale
    • Sale-Leaseback
    • Value-Add
    • Deals of the Week
    • All Sales
  • Development
    • Architecture
    • Construction
    • Conversion
    • Redevelopment
    • Sustainability
    • All Development
  • Capital Markets
    • Alternative Lending
    • Earnings
    • Economy
    • Foreign Investments
    • Private Credit
    • Private Equity
    • Public Markets
    • REITs
    • All Capital Markets
  • Tech
  • Weekly Issue
  • Events
  • Power
  • More
    • Players
    • Legal
    • Policy
    • Features
    • Research & Analysis
    • Columnists
    • Partner Insights
    • Transportation
    • Videos
Log In Sign Up My Account Log Out
  • Account Details
  • Email Preferences
  • Member FAQs
  • Logout
Commercial Observer
  • Industry
  • Residential
    • Multifamily
    • Homebuilding
    • Condo
    • Hotel Condo
    • Student Housing
    • Single-Family Rental
    • Short-Term Rental
    • Senior Living
  • Office
    • Coworking
    • Flex
  • Retail
    • Shopping Centers
    • Outlet/Factory Malls
    • Supermarkets/Grocery Stores
    • Showrooms/Dealerships
    • Street Retail
  • Industrial
    • Data Centers
    • Distribution Centers
    • Industrial Outdoor Storage
    • Manufacturing
    • Self-Storage
    • Studios/Soundstages
    • Warehouse
  • Hospitality
    • Casinos
    • Convention Centers
    • Hotel/Resort
    • Restaurants
  • Land
    • Farm Land
    • Parking Lots
  • Healthcare
    • Hospitals
    • Medical Offices
    • Nursing Homes & Assisted Living
  • Life Sciences
  • Special Purpose
    • Air Rights
    • Arenas/Stadiums
    • Development Rights
    • Educational
    • Government/Military
    • Museums
    • Place of Worship
    • Theaters
  • Infrastructure
    • Airports
    • Bridges/Tunnels
    • Highways
    • Railways
  • Mixed-Use
  • Markets
    • Los Angeles
    • New York City
    • Manhattan
    • Queens
    • Bronx
    • National
    • Washington DC
    • South Florida
  • Leases
    • Office Leases
    • Ground Lease
    • Sublease
    • Tenant Talk
    • Deals of the Week
    • All
  • Finance
    • Acquisition
    • Construction Financing
    • CMBS
    • Distress
    • Refinance
    • Deals of the Week
    • All
  • Investments & Sales
    • Development Site Sale
    • Portfolio Sale
    • Sale-Leaseback
    • Value-Add
    • Deals of the Week
    • All
  • Development
    • Architecture
    • Construction
    • Conversion
    • Redevelopment
    • Sustainability
    • All
  • Capital Markets
    • Alternative Lending
    • Earnings
    • Economy
    • Foreign Investments
    • Private Credit
    • Private Equity
    • Public Markets
    • REITs
    • All
  • Technology
  • Policy
    • Housing
    • Transportation
    • Urban Planning
    • Zoning
  • Legal
  • Weekly Issue
  • Events
  • Power Series
  • More
    • Features
    • Columnists
    • Research & Analysis
    • Partner Insights
    • Players
    • Videos
  • Advertise
  • Contact
  • Reprints
  • Newsletters
  • Power Finance
  • Power 100
  • Owners Magazine
Log In Sign Up My Account Log Out
  • Account Details
  • Email Preferences
  • Member FAQs
  • Logout
  • © 2025 Observer Media · Terms · Privacy

Finance
Queens

Presented By: Meridian Capital Group

Meridian Exclusively Lists 58-30 Grand Avenue in Maspeth, Queens for $42 Million

By Meridian Capital Group May 10, 2018 1:12 pm
reprints
Source: Meridian Capital Group


Meridian Investment Sales, the commercial property sales division of Meridian Capital Group, is pleased to present the exclusive offering of 58-30 Grand Avenue, an industrial and logistics facility in the Maspeth neighborhood of Queens, NY. Senior Executive Managing Director, David Schechtman and Vice President, Chris Kim, are representing the seller in this transaction.

The three-story, 151,000-square-foot building is an exceptional industrial and logistics facility in a neighborhood that has emerged as the forefront for last mile logistics in New York City. The building contains 16-foot-high ceilings, column spacing of approximately 25 feet, and presents a unique “building within a building” configuration, containing loading docks on both the first and second floors afforded by the lot’s topography. This rare enhancement results in a second floor that is just as valuable as the ground floor for tenants. Currently, the building is occupied by four tenants with lease expirations ranging from 2018 to 2024 with landlord termination options beginning in 2021. An investor will have an excellent opportunity to begin repositioning the building and capitalize on the soaring industrial demand in Maspeth in the near term.

SEE ALSO: New York Life Provides $136M Refi for Hawaii’s Fairmont Orchid Hotel

Given Maspeth’s central location at the gates of Long Island, Manhattan, and Brooklyn, and as a result of the intensifying trend towards e-commerce, an influx of users have sought to establish necessary distribution centers in the area. With entrances to the Long Island Expressway (I-495) and the Brooklyn Queens Expressway (I-278) just minutes away from the property and close proximity to some of New York’s most densely populated neighborhoods, it has the location and the characteristics to serve as a regional distribution center for a major corporation.

“The industrial revolution of this market cycle isn’t just hype. This incredibly efficient 150,000-square-foot warehouse centrally located in Maspeth with ideal column spacing, ceiling heights, and ample loading docks for trailers, coupled with easy access to major thoroughfares and near-term tenancy expirations is a value investment at $42 million,” said Mr. Schechtman.

David Schechtman, Senior Executive Managing Director, can be reached at (212) 468-5907 or DSchechtman@meridiancapital.com and the listing for 58-30 Grand Avenue may be viewed here.

58-30 Grand Avenue, Chris Kim, David Schechtman, Sponsored, sponsored-link, Meridian Capital Group, Meridian Investment Sales
 
Trending Stories
Residential · Research & Analysis
California

Rents Near L.A. Fire Areas Rising Faster Than County Average: Report

Office · Investments & Sales
Washington DC

Trump Administration Greenlights Quick Disposal of Massive Federally Owned Offices

Office · Investments & Sales
New York City

Massimo and Alberta Ferretti Sell 30 West 56th Street to PLT Energia Owner for $22.4M

Residential · Op-ed
National

Renting Beats Buying in These U.S. Markets

Fairmont Orchid, a 540-key luxury hotel on the Big Island of Hawaii
Hospitality · Finance
Hawaii

New York Life Provides $136M Refi for Hawaii’s Fairmont Orchid Hotel

By Brian Pascus
Davenport, Fla.
Retail · Finance
Florida

Synovus Bank Lends $45M for Orlando-Area Retail Center Acquisition 

By Andrew Coen
YMP Real Estate Management Moshe Popack, Meridian's David Hayum and Palo Verde Apartments in West Palm Beach, Fla.
Residential · Finance
Florida

Israel Discount Bank Provides $37M Refi for South Florida Apartments

By Andrew Coen
More

  • Industry
    • Residential
    • Office
    • Retail
    • Industrial
    • Hospitality
    • Healthcare
    • Life Sciences
    • Special Purpose
    • Infrastructure
    • Mixed-Use
  • Leases
    • Office Leases
    • Ground Lease
    • Sublease
    • Tenant Talk
  • Finance
    • Acquisition
    • Construction Financing
    • CMBS
    • Distress
    • Refinance
  • Investments
    • Development Site
    • Portfolio Sale
    • Sale-Leaseback
    • Value-Add
  • Development
    • Architecture
    • Construction
    • Conversion
    • Redevelopment
    • Sustainability
  • Capital Markets
    • Alternative Lending
    • Earnings
    • Economy
    • Foreign Investments
    • Private Credit
    • Private Equity
    • Public Markets
    • REITs
  • Technology
  • More
    • Features
    • Columnists
    • Research & Analysis
    • Legal
    • Players
    • Transportation
  • About
    • Membership
    • Advertise
    • Newsletters
    • Contact
    • Reprints

Read the latest edition of the Commercial Observer online!

July 28th 2020 Magazine Issue Cover
© 2025 Observer Media Terms Privacy Cookie Settings Do not sell my data Sitemap