$25M Ridgewood Sale Underscores Demand for Industrial
An industrial site at 75 Onderdonk in Ridgewood, Queens has traded for $25 million, with B6 Real Estate Advisors handling the sale. The property, a 66,000-square-foot warehouse with 61,000 square feet of air rights, was among the few large industrial assets on the market at the time.
B6’s Donovan team of Thomas Donovan and Robert Rappa represented seller Jason Richard Realty LLC. The buyer was MySales LLC, represented by Brian Jaffe of Jaffe Realty.
According to B6, this sale showcases that the demand for industrial assets is growing at an exponential rate. The pandemic amplified the importance for e-commerce and the need for distribution/storage space became crucial.
There was, and still is, a lack of good industrial product, B6 says. This is due to the gentrification of neighborhoods that once were considered only for industrial/warehouse, which led to increasing demand for industrial assets.
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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