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....February 7, 10:17 AM |
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LIC Building Sold
The long, grey building that lines Northern Boulevard around 37th St. in Long Island City found buyers who will change the 300,000 square-foot space into multiple loft-style commercial tenancy with ground floor retail.
After nine months, Standard Motor Products Corporate Headquarters, 37-18 Northern Blvd., sold the building to an out-of-state pension fund, EX 11 Northern Boulevard Acquisition LLC, for $40.6 million. A total of 18 parties vied for the space but SMP required the property to be maintained as a first class commercial structure compatible with their continued occupancy of up to a 30 year lease-back, as well as, flexible occupancy, in-building dining service and enhanced security. The Greiner-Maltz marketing team represented the seller and Greiner-Maltz brokers represented the purchaser. |
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