Commercial-Office Conversion Planned for 10- And Seven-Story Industrial Buildings at 341-353 39th Street, Greenwood Heights
Madison Realty Capital has acquired the 10-story, 130,000-square-foot industrial building at 341 39th Street and the neighboring seven-story, 30,000-square-foot industrial property at 353 39th Street, in southern Greenwood Heights (on the border of Sunset Park), with plans to convert the structures into modern office and manufacturing space. The properties traded for $37.5 million, Crain’s reports. The currently vacant buildings would get new lobbies, windows, mechanical equipment such as elevators, amenities, and outdoor space (presumably on the roof). Between the buildings, the floor plates will range from 4,000 square feet to 13,000 square feet. The 36th Street stop on the D, N, and R trains is three blocks to the north. The duo was placed on the market last year with an asking price of nearly $50 million.