The warehouse at 48-29 31st Pl. in Long Island City. Photos courtesy of Modern Spaces.
Dec. 26, 2024 By Ethan Marshall
Modern Spaces, a Long Island City-based real estate firm, announced it brokered the $7.6 million sale of a 16,800-square-foot warehouse located at 48-29 31st Place in Long Island City.
The deal, finalized on Thursday, Dec. 5, marks another significant transaction in the borough’s evolving industrial real estate market.
The property, sold by Werwaiss Properties to Terreno Realty, closed for approximately $500,000 below the initial asking price of $8.1 million. Evan Daniel and Edward DiTomasso of Modern Spaces served as the brokers for the transaction.
The three-story industrial building offers two functional floors. The ground floor, encompassing 15,000 square feet, boasts ceiling heights of up to 17 feet, providing ample space for storage or industrial use. A partial second floor, measuring 1,800 square feet, includes an air-conditioned office area, making the property suitable for diverse operational needs.
The warehouse also features six marked outdoor parking spaces, along with a seventh parking spot that includes a roll-up gate and tailboard loading. Additional amenities include 600 amps of power, three bathrooms, a full sprinkler system, and three roll-up gates, one of which is equipped with an interior loading dock.
For more information about the firm and its services, visit modernspacesnyc.com.
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