STATEN ISLAND, N.Y. — A roughly 53-acre industrial outdoor storage site in Bloomfield was recently sold by Dov Hertz, an industrial investor, for $167 million, according to a report by The Real Deal.
Hertz’s DH Property Holdings sold the parcel at 1900 and 1800 South Ave. to real estate investment firm Jadian Capital, a source familiar with the deal told The Real Deal.
Cushman & Wakefield, which represented the seller, called the transaction the largest industrial outdoor storage (IOS) sale in New York City history, according to Traded.
As reported by Traded, Jadian Capital plans to maintain the property as an industrial outdoor storage facility. The property is already fully leased to City Asphalt, an asphalt manufacturer, and IAA, an automotive auction company, according to Traded.
DH Property Holdings first purchased the sites in 2020 and 2021 for a combined $79 million, The Real Deal reported. After purchasing the sites, the firm invested approximately $10 million in capital projects, as reported by Traded.