A 53-acre stretch of industrial land on Staten Island’s west shore just sold for $167 million, and brokers are calling it the largest industrial outdoor storage sale in New York City history. What makes the number worth examining isn’t just its size. It’s that the underlying income growth behind it is fully documented, not speculative.
Jadian Capital bought the property at 1900 and 1800 South Avenue from Dov Hertz’s Kadima Industrial Partners, formerly known as DH Property Holdings, according to broker Cushman & Wakefield, which represented the seller. Hertz’s firm had purchased the two adjacent parcels separately in 2020 and 2021 for a combined $79 million, then spent roughly $10 million more on capital improvements. All in, that puts the seller’s total investment at around $89 million, meaning the sale price represents nearly double that figure in under six years.
The property itself explains part of the appeal. It sits in the Bloomfield section of Staten Island’s west shore with what industry professionals call tri-modal access: a rail connection, a waterfront bulkhead, and highway proximity, all on one site. It’s fully leased to two tenants, asphalt mixing plant City Asphalt and auction house IAA, and Jadian plans to continue operating it as an industrial outdoor storage facility rather than redeveloping it. “Fully leased, the 53-acre property illustrates the continued user and capital demand for sites offering proximity to infrastructure and consumers,” Kyle Schmidt, a Cushman & Wakefield vice chairman who worked on the deal, wrote in a LinkedIn post announcing the sale…