Bluestone, Altmark nab Bronx factory building for $44M

By Katherine Clarke – AS SEEN IN THE REAL DEAL

A joint venture between Eli Tabak’s Bluestone Group and the Altmark Group has purchased a 235,584-square-foot industrial factory building in the Bronx for $44 million, sources told The Real Deal.

The property, at 825 East 141st Street, had been owned by the National Equipment Corporation out of the Bronx since the 1960s, records show.

The sale price amounts to approximately $186 per square foot for the seven-story building, which had been used to store packaging machinery.

Yosef Katz of GFI Realty Services, the broker on the transaction, declined to comment or confirm the deal.

Bluestone and Altmark’s plans for the property were not immediately clear. A spokesperson for the firm was not immediately available.

The companies have been active buyers in the Bronx in recent months. They recently closed on a deal to buy a Mott Haven warehouse spanning an entire block along Willow Avenue, between East 134th and 135th streets, for $14.1 million alongside Tabak’s brother Joseph Tabak’s Princeton Holdings.

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