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The New York Tri-State Investment Sales team, led by James Nelson, arranged the sale of a creative office property in Astoria, Queens

Avison Team Brokers Sale of Creative Office in Astoria 

Avison Young’s Tri-State Investment Sales Group has sold The Cigar Factory, a 120,559-square-foot creative office building at 35-11 9th St. in Astoria, for $26.375 million. Extensively renovated by the previous owner, the four-story factory-turned-office features predominantly open floorplans suited to a range of uses from conventional offices to creative studios. 

Principal and head of Tri-State Investment Sales James Nelson represented the seller with principals Erik Edeen and Charles Kingsley and director Brent Glodowski. The buyer was Daryl Hagler. 

“The Cigar Factory enables the new owner to offer a combination of modern functionality and old-world flavor that has become ultra-desirable among tenants, and with average in-places slightly below the market rate, if offers a great opportunity to increase the buyer’s return through leasing,” said Nelson. “We were able to drive value for our client by communicating the asset’s many advantages to potential buyers, and that shows in the final price.” 


Inside The Story

Avison Young Tri-State Investment Sales

About Paul Bubny

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 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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