Rundown Warehouse on Vernon Boulevard Sells for Big Bucks

The green warehouse at 45-40 Vernon Boulevard just hit public records for $14,696,041.24. The buyer is Simon Development Group, a Manhattan-based firm, and the seller is listed as “Vernon 4540 Realty LLC.” The Real Deal also caught wind of the sale; the seller declined to tell them future plans for this site. In 2011, the building was the base of a lawsuit — a real estate developer promised to develop it, but he instead took money from the 45-40 Vernon owners for personal expenses. According to TRD, the suit was settled a month ago.

Now, about the building itself: PropertyShark says the lot is 33,150 square feet and the building on site comes in at 69,550 square feet. It’s zoned for manufacturing. Department of Buildings documents do not reveal any future plans for the site, but plans filed back in 2010 called for a building conversion for commercial use. The warehouse is a little over-built (it’s at a FAR of 2.1, the maximum allowed FAR is 2) so there’s a decent chance the new buyers will keep the building up.

Meanwhile, “Vernon Tower LLC” snatched up a commercial property with vacant space at 31-48 Vernon Boulevard, also according to public records. PropertyShark says the lot, located across from Socrates Sculpture Park, has a total of 12,000 square feet, a FAR of 4, and a C1-3/R7A zoning. A residential tower, perhaps, in this parcel’s future? You can see a picture of it after the jump.

Photos via Google Maps