A 94,000-square-foot property in the Glendale section of Queens has sold for $9.18 million to two different buyers, according to Avison Young, the brokerage firm that represented the seller and one of the buyers.
The property at 79-40 Cooper Avenue includes eight lots, a 50,000-square-foot industrial building, two attached residential buildings, two parking lots and vacant land spread over two acres.
The seller of the property was Hansel ‘n Gretel Brand, a deli processor that had been in business for 140 years that has since closed. Hansel ‘n Gretel Brand occupied the industrial building until last year.
Carye & Sons Acquisitions, a family-owned real estate company, bought the majority of the property, including all of the holdings along Cooper Avenue, for around $7 million. This included four lots, a vacant piece of land and the industrial building. Carye & Sons plans to redevelop the industrial property on the site into an 80,000-square-foot self-storage and retail building.
The remaining piece of the property, including a parking lot and two residential dwellings, was sold to an adjacent landowner for $2.2 million. Right Time Realty’s Joe Ibrahim represented the buyer on this transaction. Mr. Ibrahim could not immediately be reached for comment.