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New York & Tri-State  + Outer  + Industrial  | 
Meridian arranged the sale of an industrial property in Sunnyside, Queens to an affiliate of East End Capital

Meridian Closes Sale of Three-Story Sunnyside Industrial 

Meridian senior executive managing director David Schechtman and managing directors Lipa Lieberman and Abie Kassin closed on the $41.7-million sale of 48-02 48th Ave., a 140,000-square-foot warehouse in Queens’ Sunnyside neighborhood. The buyer is an affiliate of East End Capital, whose principals are Jonathon Yormak, David Peretz and Shep Wainwright. 

In conjunction with the sale, Meridian arranged $34 million in acquisition financing. The loan features attractive economic terms and the flexibility needed for the client to implement its business plan. This transaction was negotiated by senior managing director Ronnie Levine and SVP Ben Jacobs. 

The three-story industrial complex features 143,600 gross square feet, plus a 10,500-square-foot parking lot with 92,792 square feet on the ground floor and partially built second and third floors. Former ownership spent more than $2 million on building-wide improvements. The property was delivered fully vacant to the buyer. 

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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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