Stellar Management pays $5M to Rehns family for warehouse in Long Island City

35-01 36th Avenue in Long Island City (Credit: Google)

Stellar Management through the entity SM Qozb 1 LLC paid the Rehns family $5 million for 35-01 36th Avenue in Long Island City. The deal closed on September 23, 2019, and was recorded on October 25, 2019. The transaction consists of 1 parcel, including the tax class fireproof warehouse (E1). The property is 24,961 square feet. The parcel(s) have total development potential of 33,461 square feet.
The average sale price per square foot is $149.
The estimated cap rate is 1.3%

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

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