Buckeye Partners Sells Bronx Petroleum Storage Site for $74M
By Celia Young April 4, 2023 5:15 pm
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Petroleum distributor Buckeye Partners sold its Bronx gas storage site at 1020 and 1040 East 149th Street for $73.5 million, according to property records made public Tuesday.
An entity that shares an address with energy supplier Sprague Energy bought the three buildings, used to store petroleum products before they are shipped to gas stations and other businesses, in a deal that closed March 31, according to property records.
Buckeye scored a pretty penny for the site, having purchased it for just $10 million in 2013 from energy firm Hess, according to property records.
The Bronx site, on the East River waterfront, is one of a handful of properties Buckeye owns in New York. Other assets include fuel pipelines to LaGuardia Airport and JFK Airport and more than 18 million barrels of petroleum storage space around New York Harbor, according to the Buckeye website.
But unlike the rest of Buckeye’s portfolio, 1020 and 1040 East 149th Street are known for more than just oil. The properties once moonlighted as a filming location for Hulu’s television series “Only Murders in the Building,” starring Martin Short, Steve Martin and Selena Gomez, Untapped Cities reported.
Spokespeople for Buckeye and Sprague did not immediately respond to requests for comment. It was not immediately clear who brokered the sale.
Celia Young can be reached at cyoung@commercialobserver.com.
