27-11 49th Avenue
LIC Cosmetics Factory Sells for $105.5M
A 3-story manufacturing plant, located at 27-11 49th Avenue in Long Island City, Queens has just traded hands for $105.5 million. The structure was purchased by Metropolitan Realty Associates from the previous owner, Traub Capital Partners, in a deal brokered by CBRE.
The Class-B facility is currently used by MANA Products; a company owned by Traub Capital that manufactures cosmetics and skin care products. As part of the deal, Traub has arranged a lease buy-back arrangement, which will ensure that production remains in place and unaffected.
Originally constructed in 1965, the plant stands feet tall and totals square feet. It has 161,820 square feet of factory area, and square feet of office space, boasting 6-loading docks, and 21-foot interior ceiling clearances. The property also has employee parking spots lining the building.