Huge Long Island City Building Is Bought For $61M By Real Estate Giant

Huge Long Island City Building Is Bought For $61M By Real Estate Giant

Summary : The eight-story, 337,000-square-foot Packard Motor Building at 32-02 Queens Blvd. was sold by the family that founded Mana Products, a cosmetics manufacturer, sources said. Dating to at least 1931, the warehouselike building spans the full block between Van Dam Street and 32nd Place, facing the 7 train tracks.

The buyer was formally identified as Related Fund Management, a third-party investment manager that is affiliated with Related Companies — the developer responsible for Hudson Yards. While Related’s plans for the building were not clear, its potential uses include science labs, warehouses, data centers, self-storage or office space, sources said.

The eight-story, 337,000-square-foot Packard Motor Building at 32-02 Queens Blvd. was sold by the family that founded Mana Products, a cosmetics manufacturer, sources said. Dating to at least 1931, the warehouselike building spans the full block between Van Dam Street and 32nd Place, facing the 7 train tracks.The buyer was formally identified as Related Fund Management, a third-party investment manager that is affiliated with Related Companies — the developer responsible for Hudson Yards. While Related’s plans for the building were not clear, its potential uses include science labs, warehouses, data centers, self-storage or office space, sources said. Other features include 13-to-20-foot ceilings, freight elevators and 50 on-site parking spaces.Mana had been looking to leave the building since at least 2019, when it announced plans to consolidate operations at its other facility in Hunter’s Point. Mana moved into the building in 1978 and occupied its top half as of 2019, with the lower floors leased out to other businesses, the Queens Post reported.

Previously, for about a decade starting in 1938, the building’s seventh floor was home to the New York City Fire College, according to a history by the NYC Fire Museum. The sale was brokered by Doug Harmon, Kevin Donner, Josh King and Willis Robbins of Cushman & Wakefield. The company declined to comment.