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55-40 44th Street Update 05/10/22

Maspeth Industrial Property Sells for $24.67M

A single-story industrial building, located at 55-40 44th Street in Maspeth, Queens has just been sold for $24.67 million. It was purchased by Brookfield Properties from the previous owner, Green Street Group, in an arms-length transaction.

Originally constructed in 2007, the warehouse stands feet tall and totals square feet. In addition to its use as a storage facility, it contains square feet of office space. The structure sits on a square foot lot, which is currently used to store scaffolding.

It's unclear what Brookfield's plans are going forwards, but given the price that they paid for the property, we can probably assume that something is in the pipeline.

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