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Cushman & Wakefield Negotiates Sale of $25M Warehouse Property in Queens

47-50-30th-Street-Queens

The 52,000-square-foot warehouse will be converted into a research and development office with lab space.

NEW YORK CITY — Cushman & Wakefield has negotiated the $25 million sale of a 52,000-square-foot warehouse property in the Long Island City neighborhood of Queens. Cushman & Wakefield’s Stephen Preuss, Joshua King and Andreas Efthymiou represented the buyer, California-based investment trust Alexandria Real Estate Equities Inc., which plans to convert the warehouse into a research and development office with lab space. The seller was Prestone Realty LLC, which has occupied the building since 2005.

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