NEW YORK CITY—Metropolitan Realty Associates has purchasedthe former Matsil Bros. building—with equity partner TH RealEstate, an affiliate of Nuveen (the investment management arm ofTIAA)—for $55 million. The acquisition marks MRA's second majorLong Island City acquisition.
Located at 48-49 35th St., the three-story 246,000-square-footwarehouse was originally built in 1949 and last traded hands nearly40 years ago. It is currently 79% leased, with internationalshipping company AirSea Packing as the largest tenant occupying100,000 square feet.
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Rayna Katz
Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.
