By Dan Orlando
Hudson Realty Capital is looking for $30 million for a former cigar factory that it owns in Long Island City.
The company has tapped Evan Daniel and Edward DiTomasso of Modern Spaces to market the warehouse property at 35-11 and 35-31 9th Street.
Daniel told Real Estate Weekly that the property has already received a significant amount of interest and that a potential price tag in the $30 million range has been discussed, but he made it clear that no specific offers were on the table.
In the 19th Century, the four-story 102670 s/f property was a DeNobili cigar factory. Daniel is marketing the current entity as a commercial property with potential for residential use down the line.
“It has potential for a residential conversion,” said Daniel. “But I’m marketing it right now as an office building. It’s 91 percent occupied. It has leases for another four or five years.”
“This is a building that is a four-story old-school classic,” he said. “It has unbelievable architecture inside. It is something that the community really benefits from because it offers that creative flex office space.
As the neighborhood continued to develop as a mixed use district, Daniel said, “Why not maximize the office component?”
