NEW YORK, NY – November 13, 2012 – Randy Modell, vice president of Ariel Property Advisors, and Steven Hornstock, a partner with ABS Partners Real Estate, have announced the sale of a development site at 3019 Northern Boulevard in Long Island City for $5.75 million. The transaction originated when Mr. Modell was with ABS Partners.
Mr. Modell and Mr. Hornstock represented the seller, a private owner who previously ran a medallion (yellow) taxicab business from the site, and the buyer, Storage Deluxe, which operates self-storage facilities in Brooklyn and Queens. Zoning for the site will allow Storage Deluxe to construct a self-storage facility with approximately 120,000 buildable square feet.
“The site’s close proximity to the Upper East Side via the 59th Street Bridge makes it a ideal location for a self-storage facility,” Mr. Modell said.
More information is available from Mr. Modell at 212-544-9500 or rmodell@arielpa.com.
