Himmel + Meringoff Nabs Queens Office/Warehouse Asset
- Jun 19, 2017
Himmel + Meringoff Properties has acquired a 127,000-square-foot, six-story office/warehouse property situated in Queen’s Long Island City neighborhood. The sale was funded by an acquisition and development loan provided by M&T Bank. Empire Leasing and Development President Tom Tassone acted on behalf of the seller, an entity affiliated with Daniel Geoly, according to public records. The building last traded in 1982, and it served as headquarters for Geoly’s costume design business, Eaves-Brooks Costume Co.
The property is located at 21-07 41st Ave., offering 20,000-square-foot floor plates. It is also conveniently located at the F train subway station, two stops from Midtown Manhattan and one stop from Cornell University’s Roosevelt Island division. Neighboring amenities include restaurants, cafes, banks, hotels and retailers.
The building is occupied by tenants such as Penn & Fletcher, Zoe Ltd., Elities and Magellan Fine Arts Services. Vacant ground-floor retail space totaling 11,000 square feet is also available for fitness, healthcare, food & beverage and grocery businesses.
“We were able to acquire this property at a very attractive cost basis. Over the years we’ve developed a significant war chest that gives us the flexibility to move rapidly to close on deals. As we navigate through this current cycle, we expect to see more opportunities like this and are well positioned to expand our portfolio,” said Leslie Himmel, co-managing partner of Himmel + Meringoff, in prepared remarks.
Image courtesy of Himmel + Meringoff Properties