Marcus & Millichap recently closed the sale of 43-10 21st St., a two-story industrial property in Long Island City, Queens. The asset sold for $14.5 million.
“At $359 per square foot, this transaction sets a pricing benchmark for multi-story industrial in today’s Long Island City market,” said Jakub Nowak of the Nowak Group of Marcus & Millichap in New York City. “The competitive process we ran attracted over a dozen written offers and delivered a result that significantly exceeded recent comparable trades in the low $200s per square foot.”
Nowak and Matthew Rosenzweig of Marcus & Millichap represented the seller and procured the buyer.
The property totals approximately 40,400 square feet on a corner lot and is configured for multi-tenant industrial use. The building is fully occupied by four tenants, with leases rolling between 2026 and 2027. Built in 1931, the property is located just south of the 59th Street Bridge.
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