Connect with us

Acquisitions

Blackstone acquires 83-15 24th Ave for $55.5 million

Warehouse is located across from LaGuardia Airport

83-15 24th Avenue (Credit: Google Maps)

The Blackstone Group has acquired 83-15 24th Avenue from Steel Equities for $55.5 million. The warehouse spans 116,000 square feet, and is located across from LaGuardia Airport. Fedex is the tenant.

Acquisition Financing: Blackstone secured $39 million in financing from Nuveen (AKA TIAA / The Teachers Insurance and Annuity Association of America ) to close the deal, according to TRD.

Flashback: Steel Equities paid $22.7 million for the two-story industrial building in 2010. This deal reflects the continued demand in the e-commerce space. Well done!

Continue Reading
To Top