Meir Babaev’s AB Capstone pays $25M to Spiel Associates affiliate for property in Astoria

Meir Babaev’s AB Capstone through the entity Northern Blvd Lic LLC paid Spiel Associates affilate’s Norton Spiel LLC $24.5 million for 45-01 Northern Boulevard, 34-08 46th Street in Astoria. The deal closed on September 24, 2019, and was recorded on October 10, 2019. The transaction consists of 2 parcels, including the tax class miscellaneous manufacturing building (F9). The property is approximately 52,000 square feet.

A 2015 listing for the property was asking $35 million. Another flyer from 2015 offered the property at $29 million.

Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link
A recent story on the property. link.