REAL ESTATE The Cigar Factory in LIC sells for $31.1M BY ANGY ALTAMIRANO [email protected]/@aaltamirano28 After receiving large interest from investors near and far, one historic Long Island City building recently sold in an all-cash transaction for over $30 million, according to realty company Modern Spaces. Manhattan-based real estate private equity fi rm Brickman scooped up the former DeNobili Cigar Factory located at 35-11 Ninth St. for $31,100,000. The sale of the 102,670-square-foot building, which also included a 5,000-square-foot parking lot at 35-31 Ninth St., was announced on Aug. 25 by Modern Spaces’ Commercial and Investment Property Group. “Tremendous demand from local, national and international investors led to a price point of approximately $302.91 per square foot in just eight weeks of marketing,” said Evan Daniel of Modern Spaces who spearheaded the marketing of the site with Edward DiTomasso. “The sale to Brickman speaks to the strength of the offi ce and investment market, a trend that continues to prove that Long Island City is quickly becoming a destination for institutional capital and truly a mixed-use, live/work neighborhood.” The four-story offi ce/loft building also known as “The Cigar Factory” was built in 1896 and once housed the DeNobili Cigar company. It currently Photo courtesy of Modern Spaces Sales in Queens HOMES – CO-OPS – CONDOS Listings and photos courtesy MLSLI NORTHWEST NORTHEAST SOUTHWEST SOUTHEAST WOODSIDE FRESH MEADOWS HOWARD BEACH LAURELTON $400,000 and under 41-35 67th St., Woodside Price: $345,000 Bed(s): 1, condo Bath(s): 1 Broker: R & J New York Properties $400,001 - $800,000 33-65 14th St., Long Island City Price: $448,000 Bed(s): 2, co-op Bath(s): 1 Broker: Bianca Colasuonno, Realty Executives Today $800,001 and more 28-14 Ditmars Blvd., Astoria Price: $1,499,000 Bed(s):4, single-family home Bath(s):2 Broker: Christine Athanasopoulos, Charles Rutenberg Realty $400,000 and under 162-21 Powells Cove Blvd., Beechhurst Price: $339,000 Bed(s): 1, co-op Bath(s): 1 Broker: Laura Copersino, Douglas Elliman Real Estate $400,001 - $800,000 170-03 Pidgeon Meadow Rd. Fresh Meadows Price: $749,000 Bed(s): 4, single-family home Bath(s): 3 Broker: Maureen Folan Folan Real Estate Group $800,001 and more 39-20 Corporal Stone St., Bayside Price: $1,199,000 Bed(s): 6, single-family home Bath(s): 3 Broker: Christopher Degeorge, Keller Williams Realty Landmark $400,000 and under 117-42 134th St., Ozone Park Price: $389,000 Bed(s): 3 Bath(s): 1 full, 1 half Broker: Sayed Islam, RE/MAX $400,001 - $800,000 159-52 79th St., Howard Beach Price: $799,000 Bed(s): 4, single-family high ranch Bath(s): 2 Broker: Salvatore Dell Italia, Voro LLC $800,001 and more 102-33 86th Ave., Richmond Hill Price: $909,999 Bed(s):6, two-family home Bath(s): 4 full, 1 half Broker: Marcia Guevara Winzone Realty Inc. PICTURED LISTING $400,000 and under 80-35 Springfi eld Blvd., Queens Village Price: $239,000, co-op Bed(s): 2 Bath(s):1 Broker: Alice Hia, Winzone Realty Inc. $400,001 - $800,000 133-21 229th St., Laurelton Price: $469,000 Bed(s): 3, single-family tudor Bath(s): 1 full, 2 half Broker: Joanne Guthman, Joanne L. Guthman Real Estate $800,001 and more 217-15 85 Ave., Hollis Hills Price: $1,299,999 Bed(s): 3, single-family colonial Bath(s): 2 full, 2 half Broker: Maria Georgatos, Daniel Gail Associates features 57 commercial units and two cell towers. Due to its zoning, The Cigar Factory is ideal for future residential conversion with 14- to 22-foot ceilings, and features such as exposed beams, arched windows and hardwood fl oors. The site is located just a block from the Long Island City waterfront and is close to major subway lines and highways. “Demand for such space has exploded this year leading to dramatic rent increases throughout western Queens,” Daniel said. “The development of the Cornell Tech campus on Roosevelt Island will create more jobs and further put signifi cant upward pressure on offi ce demand and rent growth.”
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