Blackstone pays $37.5M to Larry Deutsch for LIC warehouses

Blackstone Group paid $37.5 million to Larry Deutsch for three warehouse parcels in Long Island City, Queens.

In the first two, the Blackstone Group through the entity B9 Hunters Point Owner LLC paid $20.6 million to Larry Deutsch through the entity Contemporary Ceilings, Inc. for industrial (F1) property at 49-33 31st Place in Long Island City, Queens and industrial (F9) at 31-30 Hunters Point Avenue in Long Island City, Queens.
The deal closed on June 3, 2021 and was recorded on June 11, 2021.
The two properties have 79,880 square feet of built space and 57,988 square feet of additional air rights for a total buildable of 137,850 square feet according to PincusCo analysis of city data. The sale price per built square foot is $258 and the price per buildable square foot is $149 per the PincusCo analysis.
The signatory for Larry Deutsch was Larry Deutsch. The signatory for Blackstone Group was Britton T. Winterer.
Over the past five years, there have been 4 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 4 renovation/alteration projects (A2) applied for with a total estimated value of $1.6 million.
Britton T. Winterer is the head of development of Link Logistics Real Estate.  The Real Deal reported on a trio of sales from the Deutsch family to Blackstone Group, including this address. Link Logistics is a subsidiary of Blackstone. 
Within a 400-foot radius of 49-33 31st Place, PincusCo identified one commercial real estate item of interests occurred over the past 24 months.
It was a loan which Abraham Spetner borrowed $7.5 million from The First National Bank Of Long Island secured by the 113,626-square-foot, five-unit industrial (E1) building on 49-29 30th Place on September 9, 2020.

Direct link to Acris document. link

In the third property in the deal, Blackstone Group through the entity B9 Hunters Point Owner LLC paid $16.9 million to Larry Deutsch through the entity Linear Lighting Corporation for industrial (F9) at 31-35 Borden Avenue in Long Island City, Queens.
The deal closed on June 3, 2021 and was recorded on June 11, 2021.
The property has 28,305 square feet of built space and 1,650 square feet of additional air rights for a total buildable of 30,000 square feet according to PincusCo analysis of city data. The sale price per built square foot is $596 and the price per buildable square foot is $562 per the PincusCo analysis.
The signatory for Larry Deutsch was Larry Deutsch. The signatory for Blackstone Group was Britton T. Winterer.

Direct link to Acris document. link