NEW YORK | 30-55 Vernon Boulevard | FT | FLOORS (monitor)


In other news:

> Sunlight Development Nabs Astoria Site for $25M to Build Condo

The sun is shining on Sunlight Development as it picked up an Astoria, Queens, site for $25 million to build a condominium, Commercial Observer has learned.

Pioneer Property Group and Vernon-Sutton Inc. sold the two-story warehouse at 30-55 Vernon Boulevard to Sunlight on Aug. 25, said RIPCO Real Estate’s Andreas Efthymiou , who brokered the deal for the seller with Stephen Preuss , Kevin Schmitz and Kevin Louie . The deal triples Pioneer and Vernon-Sutton’s $8.2 million investment in the property since it bought the site in 2013, according to public records.

Sunlight plans to tear down the crumbling warehouse to construct a condo tower, Efthymiou said.