As the pandemic pushed New York’s commercial real estate market into unknown territory, many brokerages held their breath. Not Pinnacle Realty. . . .Read more
A tight hustle: TRD’s annual tally of the city’s biggest investment sales firms . . .Read more
Turnover among New York City’s commercial real estate brokerages is rarely labeled a “game changer.”
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The $78 million sale of Jamaica’s Ideal Business Center topped the list. It was followed by Home Depot’s $63 million purchase of a Coca-Cola bottling plant
in Maspeth. And a pair of industrial sites near JFK Airport that Deutsche Bank’s real estate arm bought for $43.1 million and $33.6 million occupied
numbers three and four on the list.
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Home Depot pick up a 7.3 acre site that houses a Coca-Cola bottling plant in Queens' Maspeth neighborhood for $63 million, sources told the Real Deal. Kaymac had hired a Pinnacle Realty team led by David Junik, Decio Baio and James Tack to market the sale in March, when sources had pegged it to sell north of $70 million.The site, located near the Long Island Expressway, offers 316,200 buildable square feet. . . .Read more
The properties at 184-10 and 184-60 Jamaica Avenue span 613,000 square feet and are around 80 percent leased, Crain’s reported. The buyers landed an acquisition
loan from private equity firm KKR.
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Yoel Goldman and the Hakim Organization have joined Property Markets Group in its purchase of one of the largest vacant sites in Gowanus, The Real Deal has learned. . . .Read more
The owner, Kaymac Corporation, hired Pinnacle Realty of New York to market the site as a potential development opportunity. Sources familiar with the site, located near the Long Island Expressway, said it could sell for between $70 million and $75 million.
Pinnacle Realty’s Decio Baio, David Junik and James Tack are representing the owner. The brokers declined to comment, while Kaymac and Coca-Cola did not respond.
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Madison Realty Capital is in contract to purchase a 3.5-acre property in Queens’ Hollis neighborhood for $78 million, sources familiar with the transaction told The Real Deal. The transaction would give them control of roughly 615,000 square feet of rentable office and industrial space, with tenants such as French Connection and Gotham Greens. . . .Read more
Larry Cerullo and Steve Tallides, owners of the popular sports bar and event space Studio Square in Long Island City, sold a nearby office property at 35-01 36th Street for $24 million, or $538 a square foot, sources told The Real Deal. . . .Read more