Prologis pays $51M to Family Stations for property in Maspeth

Prologis through the entity 48-00 Grand Avenue PE LLC paid Family Stations $51 million for 48-00 Grand Avenue in Maspeth. The deal closed on November 13, 2020, and was recorded on November 24, 2020. The transaction consists of 2 parcels, including the tax class unlicensed parking lot (G7).

The seller is a non-denominational Christian radio station. The sale price was 10 times the 2015 price. The broker on the deal was Quantierra’s Ben Carlos Thypin and Jay Gilbert, according to the Commercial Observer.  The last time the property sold was February 20, 2015 for $5,075,625.

Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA.