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Matt Dicker acquires 87 19th Avenue

87 19th Avenue (Credit: Google Maps)

Matt Dicker and Adam Gordon have entered into contact to acquire 87 19th Avenue in Astoria from Steinway (the piano manufacturer) for $73 million, according to the CO. The buyers are planning to develop a 500,000 SF film studio with pre-and-post production offices.

Be Smart: The project cost is pegged at around $350 million, or $425 million when accounting for build-outs.

The play: As demand increases for original content provided by companies such as Amazon, Hulu and HBO, the developer is aiming to create space for this variety of tenants.

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