
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.