Kalmon Dolgin Affiliates, Inc. (KDA) has arranged the sale of 301 Norman Avenue, a 66,618 SF industrial building with an additional 20,000 SF parking lot / logistics facility, in Greenpoint, Brooklyn.
Kalmon Dolgin Affiliates’ brokers Jeffrey Unger and Bob Klein represented both the buyer and seller in this transaction.
“We were pleased to assist CenterPoint Properties in purchasing this modern, high-ceiling, industrial warehouse and parking facility in Greenpoint, one of New York City’s most sought-after locations,” said KDA’s Jeff Unger.
“The NYC outer borough last mile/logistics market has been among the most sought-after markets this year,” added KDA’s Bob Klein “301 Norman Avenue, with its 26’ ceiling heights, offices, parking and location, meets and exceeds the needs of today’s and tomorrow’s logistics industry.”
In addition to arranging the sale and helping the Seller take advantage of the high demand for their asset, KDA also assisted the Seller through the 1031 Exchange process in locating other investment opportunities that enhanced their return on investment.
“Through careful planning and structuring, the seller was able to successfuly capitalize on this building’s increased value, and realize a greater return and equity in his real estate investment versus maintaining the existing asset,” said KDA’s co-president Neil A. Dolgin. “Our 118-years’ expertise as brokers, owners, investors, developers and property managers makes us uniquely positioned to assist clients with different objectives in a multitude of ways, not just in selling or leasing but through advising them of investment and development opportunities, leasing opportunities, and in some cases repositioning assets to increases income and future value.”
301 Norman Avenue is situated minutes from Manhattan via the Midtown Tunnel and the 59th Street and the Williamsburg Bridges. Additionally it’s located blocks from Long Island City, Queens making this an excellent location for servicing businesses in Midtown, Downtown, and the Lower and East Side of Manhattan, as well as offering convenient access to the Western Queens and North Brooklyn markets.
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ABOUT KALMON DOLGIN AFFILIATES, INC. (KDA)
Founded in 1904, Kalmon Dolgin Affiliates has grown into one of the New York metropolitan region’s leading Commercial and Industrial Real Estate Firms. We specialize in all aspects of real estate services for developing, managing, selling, leasing and marketing commercial and industrial property. Kalmon Dolgin Affiliates (KDA) brings over a century of real estate experience and innovation for buyers, sellers and tenants. KDA’s highly-trained professional brokers offer clients a practical, street-wise approach to commercial and industrial real estate brokerage, leasing and sales, supported by the latest in real estate marketing, management and research technology.