Wholesaler My Sales Sells Queens Industrial Property for $28M

Wholesaler My Sales has unloaded an industrial site in Ridgewood, Queens, roughly four years after buying it.

My Sales, an importer and wholesaler based in Edison, N.J., sold the two-story industrial building at 75 Onderdonk Avenue to Leopold Kaff, who used the entity Onderdonk HL Realty, for $28 million, according to city records made public Tuesday.

Kaff signed the deal for the buyer, while Kevin Zhang, co-founder of My Sales, signed for the seller, which used the entity 75 Onderdonk Ave, records show.

It’s unclear who brokered the deal. Spokespeople for My Sales and Jaffe Realty — which represented My Sales in its 2021 purchase of the building — did not immediately respond to requests for comment, while Kaff could not be reached for comment.

My Sales bought the building at the intersection of Onderdonk Avenue and Scholes Street from Jason Richard Realty for $25 million in July 2021, as Commercial Observer previously reported. In that deal, the 66,000-square-foot property also came with 61,000 square feet of air rights.

My Sales had purchased the site to act as its new distribution center. It’s unclear why the wholesaler decided to offload the property, as well as what Kaff intends to use the building for.

Nevertheless, news of the deal comes after some other recent industrial sales in Queens.

In October, Blackstone sold the FedEx-occupied warehouse at 83-15 24th Avenue in East Elmhurst — as well as the adjacent parking lot at 83-84 23rd Avenue — to an investment fund managed by Morgan Stanley Real Estate Investing for a total of $86.7 million, as CO previously reported.

And, in January, Terreno Realty bought a 33,000-square-foot industrial property at 49-15 Maspeth Avenue in Maspeth from transport company XPO for $50.1 million, CO reported.

Isabelle Durso can be reached at idurso@commercialobserver.com.