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Marcus & Millichap Inc.
03/26/2026 | Press release | Archived content
Marcus & Millichap Brokers $14.5M Sale of Industrial Property in Long Island City
Press Releases
Marcus & Millichap Brokers $14.5M Sale of Industrial Property in Long Island City
March 26, 2026
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NEW YORK, March 26, 2026 - Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of 43-10 21st Street, a two-story industrial property in Long Island City, Queens. The asset sold for $14.5 million.
"At $359 per square foot, this transaction sets a pricing benchmark for multi-story industrial in today's Long Island City market," said Jakub Nowak of the Nowak Group of Marcus & Millichap in New York City. "The competitive process we ran attracted over a dozen written offers and delivered a result that significantly exceeded recent comparable trades in the low $200s per square foot."
Nowak and Matthew Rosenzweig of Marcus & Millichap represented the seller and procured the buyer.
The property totals approximately 40,400 square feet on a corner lot and is configured for multi-tenant industrial use. The building is fully occupied by four tenants, with leases rolling between 2026 and 2027.
Built in 1931, the asset features 13.5-foot ceilings, a freight elevator and roll-up access on both 21st Street and 43rd Avenue. It is located just south of the 59th Street Bridge, with access to the Brooklyn-Queens Expressway and connectivity to Manhattan, Queens and Brooklyn.
"At $359 per square foot, this transaction sets a pricing benchmark for multi-story industrial in today's Long Island City market," said Jakub Nowak of the Nowak Group of Marcus & Millichap in New York City. "The competitive process we ran attracted over a dozen written offers and delivered a result that significantly exceeded recent comparable trades in the low $200s per square foot."
Nowak and Matthew Rosenzweig of Marcus & Millichap represented the seller and procured the buyer.
The property totals approximately 40,400 square feet on a corner lot and is configured for multi-tenant industrial use. The building is fully occupied by four tenants, with leases rolling between 2026 and 2027.
Built in 1931, the asset features 13.5-foot ceilings, a freight elevator and roll-up access on both 21st Street and 43rd Avenue. It is located just south of the 59th Street Bridge, with access to the Brooklyn-Queens Expressway and connectivity to Manhattan, Queens and Brooklyn.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2025, the company had 1,808 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 8,818 transactions in 2025, with a sales volume of approximately $50.9 billion. For additional information, please visit https://www.MarcusMillichap.com.
Marcus & Millichap Inc. published this content on March 26, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on March 30, 2026 at 22:16 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]