Seagis Property Group pays $15M to Kerns Manufacturing Corp. for property in Sunset Park

Seagis Property Group through the entity Spg 54th Street LLC paid Kerns Manufacturing Corp.’s Riverside Machinery Co., Inc. $15.3 million for 132 54th Street, 5402 2nd Avenue in Sunset Park. The deal closed on January 8, 2020, and was recorded on January 15, 2020. The transaction consists of 5 parcels, including the tax class fireproof warehouse (E1). The parcel(s) have total development potential of 92,315 square feet.
The average sale price per square foot is $165.

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