New York City recorded 225 transactions totaling $346 million in a single 24-hour window ending Tuesday afternoon, according to The Real Deal. The most significant commercial transaction was the sale of a warehouse at 34-02 Laurel Hill Boulevard in Maspeth, Queens, which changed hands for $18.8 million. Sellers Patricia York and John P. Pantanelli conveyed the roughly 43,200-square-foot property to the buyer, Grandview Portfolio Holdings LLC. On the residential side, Chelsea claimed the city’s priciest home sale, with Ashwin Anand acquiring a penthouse at 345 West 14th Street for $6.2 million.
ParkPoint Perspective
A Queens industrial asset trading at roughly $435 per square foot signals continued investor appetite for supply-constrained logistics real estate in infill New York City locations — product that is increasingly difficult to replicate at that basis given land costs and zoning friction. For investors, this suggests that well-located warehouse inventory still commands a meaningful premium, and that acquisition opportunities near replacement cost in such corridors remain narrow and competition-driven.
Source: The Real Deal