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Metropolitan Realty & TH Real Estate partner to buy $55m Long Island City shed

Metropolitan Realty Associates along with equity partner TH Real Estate have acquired a Long Island City warehouse for $55 million. Located on 35th Street, the three story 246,000 sqf warehouse was originally built in 1949 and was last sold nearly 40 years ago. The building is currently 79 percent leased, with international shipping company AirSea… Read more »

246K-SF Queens Warehouse will Remain a Warehouse

Metropolitan Realty Associates LLC (MRA) paid $55 million for a 246,000-square-foot warehouse in the Long Island City neighborhood of Queens with equity partner TH Real Estate, an affiliate of Nuveen (the investment management arm of TIAA). The warehouse will remain a warehouse, according to the new owner.   “As more and more warehouse and distribution… Read more »

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