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23-30 Borden Ave. / Photo credit: Stephen Kim, IPG 23-30 Borden Ave. / Photo credit: Stephen Kim, IPG

NEW YORK CITY–Atalaya Capital Management, Nan Fung Group and Innovo Property Group are developing a modernized last-mile distribution facility from a former warehouse used by the online grocer FreshDirect, in Long Island City, Queens. They plan to start construction in 2020 with a completion date in 2022.

The buyers purchased the property at 23-30 Borden Ave. from Atlas Capital Group for $75 million according to Real Capital Analytics. Built in 1960, the property currently has 283,110 square feet.

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Betsy Kim

Betsy Kim was the bureau chief, East Coast, and New York City reporter for Real Estate Forum and GlobeSt.com. As a lawyer and journalist, Betsy has worked as the director of editorial and content for LexisNexis Lawyers.com, a TV/multi-media journalist for NBC and CBS affiliated TV stations in the Midwest, and an associate producer at Court TV.

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