MAYER MALBIN IS LEAVING LIC, 4000 MORE APARTMENTS COMING?

Roll away, the dew

Used to be I could drive up to
Barstow for the night
Find some crossroad trucker
To demonstrate his might
But these days it seems
Nowhere is far enough away
So I’m leaving Las Vegas today

MAYER Malbin, “New York’s Premier Supplier of Pipes, Valves & Fittings,” is leaving their home in Long Island City after nearly a century.  The company just purchased a 41,000 sq ft building and land in Woodside for their office and distribution center, a deal brokered by Brian Jaffe at Jaffe Realty LLC.  The price they paid was $22.75 million, which to neophytes including myself might seem a meaningless number, until contrasted with what the seller paid for the building only last year: $9 million.

Yikes, that’s a walloping premium, what could the 4th generation descendants of poor Mayer who currently run the business be thinking (or smoking)?  Well, a quick look at the aerial and street view of their current location at 41-01 36th Avenue reveals a single story industrial building over a massive footprint.  Located in the vicinity of Kaufman Astoria Cinemas just north of Northern Boulevard, it’s a no-man’s land hodge-podge that’s been slowly (very) picked away with new residential developments in the last few years.

As it turns out, it looks like the Mayer Malbin property is part of a multi-lot deal acquired by the well-known NYC developer Silverstein Properties on which can be built 4,000 new residential units according to a pair of articles in The Real Deal.  Yes that’s correct, an additional 4,000 units could potentially be coming to LIC, built in an area in what previously may have been considered the ether!

Thus the evolution continues in Long Island City, and the effects ripple out into western Queens, as a long time but prosaic business pays up big for a property further out in order to cash in on their greatly appreciated HQ, now viewed as feasibly close enough to the center of the universe.

//AS Long Island City grows in leaps and bounds, more and more options become available.  For the first time ever there is now a Cheer Program for girls age 5-12:

Cosmic Fit Club in Long Island City (21-36 44th Rd.) created a partnership with Cheer Elite to bring a cheerleading program
to LIC for girls that are between the ages of 5-12 years old. The program will
be Thursdays from 4:30pm-6:30pm and is scheduled to start this Thursday week
on 1/10/19; The cost for the 16 weeks is $600 and includes:
-16 week class, 2 hours, 1x per week
– uniform top and bottom
– cheer shoes
– public performance
– performance bow
– practice top

Email the coach at
IconicCheerElite@gmail.com for more info

Mayer Malbin Websitesince 1891, and since 1925 in LIC, click here for the history of the company

Queens Plumbing Supplier Pays $23 Million for Woodside Industrial Site“Silverstein hopes to build almost 4,000 rental units…, which would be one of the largest residential projects in New York’s recent history”

Silverstein Inks Ground Lease For Massive Dairy Plant Site“The properties, which stretch across 390,906 square feet on the ground and house the dairy plant owned by Queensboro Farm Products, but carry more than 1.5 million square feet in commercial development rights”

Citylights Deserves Same Tax Break as Amazon Sayeth Scott Stringerthe City Controller comes to Gantry Park and lays it down

Amazon Tries to Win Over LIC With Open Lettermilquetoast, reveals nothing new, poor PR job

What’s Coming in NYC Real Estate in 2019“After 2019, Long Island City will continue to lead residential building citywide, with 5,125 more units expected in the years to come; the only market to approach that number is Williamsburg, with 3,437 units”

Signage Appears For Murray’s Cheese Shop & Restaurant at 28-34 Jackson Aveslated to open in Spring 2019

The Huntress Whiskey & Wings Opens in LICwhiskey, wings, in LIC, that says it all

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