36 MARCH 11, 2021 RIDGEWOOD TIMES WWW.QNS.COM
Real estate group secures funding for new industrial complex in LIC
Ridgewood Times Sales Guide
Under $600,000
2108 Butler Ave.
$599,000
Condo
2 bedrooms, 1 full and 1 half
bathrooms
Redfin Real Estate
$600,000-$1,000,000
69-33 64th Place
$679,900
Two Story
3 bedrooms, 1 bathroom
Christopher Espinal, Douglas Elliman
Real Estate
Over $1,000,000
60-23 68th Ave.
$1,295,000
Multi Family
5 bedrooms, 3 full and 1 half
bathrooms
Sylwia Anna Juras, Sold By Bart R
E Partners Inc
Under $600,000
80-13 59th St.
$599,000
Two Story
7 bedrooms, 3 bathrooms
Sandra Awad, Prime Realty
$600,000-$1,000,000
78-34 64th St.
$750,000
Colonial
3 bedrooms, 2 full and 1 half
bathrooms
Fabiana Reyes, EXP Realty
Over $1,000,000
70-21 66th Place
$1,089,000
Two Story
5 bedrooms, 3 bathrooms
David Kueber, Coldwell Banker
Kueber Realty
Under $600,000
64-42 58th Road
$550,000
Ranch
2 bedrooms, 1 bathroom
Patricia America, Coldwell Banker
Realty
$600,000-$1,000,000
54-31 44th St.
$749,000
Two Story
4 bedrooms, 2 bathrooms
Joy Martinez, Charles Rutenberg
Realty Inc
Over $1,000,000
64-51 Borden Ave.
$1,268,000
Two Story
5 bedrooms, 4 full and 1 half
bathrooms
Joyce Kim, Cana Realty
Under $600,000
61-88 Dry Harbor Road, Unit 6D
$319,000
Co-op
1 bedroom, 1 bathroom
Barbara Ventura, Keller Williams
Legendary
$600,000-$1,000,000
61-24 62nd St.
$829,000
Colonial
3 bedrooms, 2 bathrooms
John Amore, Prime Realty
Over $1,000,000
8519 60th Ave.
$1,299,000
Colonial
4 bedrooms, 3 bathrooms
Matthew A. Spezzano, Selective
Properties Rl Est
REAL ESTATE
BY JACOB KAYE
JKAYE@SCHNEPSMEDIA.COM
@QNS
A new fi ve-story industrial building
is coming to Long Island
City.
Innovo Property Group, a real
estate investment and operating
company, announced last week the
closure of a $155 million construction
loan for a new industrial building
located at 23-30 Borden Avenue.
The loan is to fund construction
costs for an approximately 900,000-
square-foot development.
The site was formerly a warehouse
for FreshDirect but in it’s new capacity,
will serve as a last-mile site and
warehouse facility with on-site parking
for a future company or companies.
The industrial building will
also feature elevated truck courts
and a vertical parking structure
providing direct access to all five
levels of the building.
“This transaction supports our
philosophy that there is significant
value in Long Island City developments,”
said Andrew Chung, the
founder of Innovo Property Group.
“Industrial has been one of the bestperforming
sectors in real estate,
driven by the significant increase
in e-commerce spending. We believe
that this expansive, state-of-the-art
facility with on-site parking will be
in high demand.”
The company bought the property
in January 2019, partnering with
Atalaya Capital Management and
Nan Fung Group for $75 million. The
FreshDirect building has since been
demolished to make way for the new
structure.
64th Place
Listings selected at random. Courtesy MLS
RIDGEWOOD GLENDALE MASPETH MIDDLE VILLAGE
64th Street 44th Street 62nd Street
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