Traub Capital buys Mana Products LIC commercial space valued at $75M

Traub Capital through the entity Mana Propco LLC paid Mana Products’s 27-11 49th Avenue Realty, LLC $75.0 million for 27-11 49th Avenue in Long Island City. The deal closed on August 31, 2020, and was recorded on September 10, 2020. The transaction consists of 1 parcel, including the tax class miscellaneous manufacturing building (F9). The property is 214,820 square feet. The parcel(s) have total development potential of 214,820 square feet.
The average sale price per square foot is $349.

In 2019, Mana presented a plan to Community Board 2, to redevelop and enlarge the building. The contract date was April 20, 2020. Traub acquired the cosmetics manufacturer and this building was part of the transaction.  The founder of Mana, Nikos Mouyiaris, died in January 2019.

Over the past five years, there have been 6 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 6 renovation/alteration projects (A2) applied for with a total estimated value of $955,600.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link
The signatory for the buyer or lender was Brian Crosby