Tesla Pays Adam Gordon $18M for Queens Parking Lot to Build Charging Station
By Isabelle Durso August 26, 2024 3:18 pm
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Elon Musk’s Tesla has paid $18 million to Adam Gordon’s Wildflower for a 40,037-square-foot parking lot in Maspeth, Queens.
Tesla picked up the lot at 48-26 54th Road through the entity Tesla US Property Holdings. The property will likely be developed into an electric vehicle charging station since Max de Zegher, director of Tesla’s charging business, signed the deal for the car company, according to city records made public on Monday.
Pinnacle Realty‘s David Junik and Decio Baio brokered the deal for Wildflower. Junik, Baio and Gordon declined to comment. A spokesperson for Tesla did not immediately respond to a request for comment.
The deal, which closed Aug. 16, was first reported by PincusCo.
In February 2020, Wildflower bought half a city block — including the Maspeth lot — as a single tax lot under the address 54-20 50th Street for $23.3 million, PincusCo reported.
Wildflower has a history of setting up shop in Queens. In March 2023, the developer secured $94 million of construction financing for its planned industrial site next to The New York Times printing facility in College Point, Commercial Observer previously reported.
Wildflower is developing the College Point Logistics Center at 28-02 Whitestone Expressway with its joint-venture partner Drake Real Estate Partners and is set to take over ownership in 2025, CO reported.
“We are thrilled to build on such an iconic site,” Gordon told CO at the time. “It is an ideal location with access to major New York City highways in an area not heavily trafficked with logistics sites.”
Also in Queens, Wildflower bought a 5.25-acre site in Astoria in June 2019 at 87 19th Avenue, where it built a major, 775,042-square-foot film studio. Actor Robert De Niro is a co-owner.
As for Tesla, the new sale in Maspeth comes after it announced in April it would lay off more than 10 percent of its global workforce, with roughly 14,000 out of 140,000 employees losing their jobs.
In what it’s hoping will be more positive news, Tesla will open its new charging station in Queens next to neighbors such as supply management company SDI, which signed a 41,000-square-foot lease at 46-35 54th Road in April 2016 and still remains at the site, according to CompStak.
Isabelle Durso can be reached at idurso@commercialobserver.com.
