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Historic Packard Building in LIC Trades to Related Fund Management

Related Fund Management has acquired The Packard Motor Building, a 337,659-square-foot mixed-use building at 3202 Queens Blvd. in Long Island City for $61 million, according to industry sources.  The seller of the historic property was the family who founded Mana Products.   

Sources said Cushman & Wakefield’s Doug Harmon, Kevin Donner, Josh King and Willis Robbins brokered the sale. Cushman & Wakefield declined to comment. 

The eight-story building offers 50 on-site private parking spaces for tenants, 13-to-20-foot ceiling heights, oversized freight elevators and flexible floorplates.  The property is suitable for a wide range of uses including life science, warehouse/flex office space, data center and self-storage.  It also offers a “building-within-a-building” opportunity, with the ability to offer separate entrances to tenants. 

The property is transit-oriented, located directly across from the 33rd Street – Rawson Subway station, which services the 7 train. It’s also near the Court Square and Queens Plaza subway stations. 

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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 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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