Craig Policastro sells industrial in Hudson Yards for $15M

The entity Ex Zdj 36 LLC paid $15 million to Craig Policastro through the entity 439 West 36th Street LLC for industrial (E1) at 439 West 36th Street in Hudson Yards, Manhattan.
The deal closed on December 17, 2021 and was recorded on January 4, 2022.
The property has 15,000 square feet of built space and 29,549 square feet of additional air rights for a total buildable of 44,584 square feet according to PincusCo analysis of city data. The sale price per built square foot is $1,000 and the price per buildable square foot is $336 per the PincusCo analysis. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.)
The seller bought the property on May 1, 2007, for $13.7 million.
The signatory for Craig Policastro was Craig Policastro.

Within a 400-foot radius of 439 West 36th Street, PincusCo identified five commercial real estate items of interests occurred over the past 24 months.
Of those five items, one was for major renovation including a certificate of occupancy change. It was a permit application filed on October 19, 2020 for the $1.2 million renovation of 14,842-square-foot R-2 building with nine residential units at 440 West 36th Street.
Of those five items, four were loans above $5 million totaling $168.6 million. The most recent of the four was DDK & Company which borrowed $6.5 million from Dime Comunity Bank secured by one condo unit in the 18,861-square-foot, 73-unit mixed-use building (RM) on 438 West 37th Street on November 16, 2021.

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