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Cushman & Wakefield Closes Sale of IOS Assemblage in Whitestone

Cushman & Wakefield arranged the sale of The Whitestone Assemblage for $12,100,000. Located at 151-11 6th Rd. in Queens’ Whitestone neighborhood, the site is an industrial outdoor storage (IOS) asset with a total lot footprint of 4.6 acres, including 1.5 acres of riparian water rights. 

Cushman & Wakefield’s Daniel Abbondandolo, Robert Kuppersmith and Joegy Raju represented the seller. Brian Sarath, also of Cushman & Wakefield, represented the buyer, Top Rock Holdings. Donna-Marie Korth, Esq, of Certilman Balin Adler & Hyman, LLP, acted as court appointed receiver.  

“This unique industrial outdoor storage asset offers tremendous upside with the ability to capitalize on the unprecedented growth of IOS assets throughout the New York City market,” said Abbondandolo. “The asset is strategically located around major transportation corridors, with the ability to also utilize New York City waterways for freight deliveries.” 

The property is leased to 12 separate tenants all on a short-term basis. 

Photo credit: Roy Smith/Wikipedia.


Inside The Story

Cushman & Wakefield's Abbondandolo

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).