Tag Archives: mayer malbin

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)? Continue reading

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