Goldman Sachs Asset Management LP and Blumenfeld Development Group Ltd. are paying $38.5 million to acquire an industrial property at Hunts Point in the Bronx, N.Y., from Advantage Wholesale Supply, The Real Deal reported.
The asset features a single-story building, spanning 144,000 square feet, as well as an 84,000-square-foot land plot. It previously changed hands in 2013 for nearly $15.8 million, according to the May 16 report.
The buyers plan to use the property as a warehouse for last-mile distribution, the report added, citing Pinnacle Realty's David Junik, who was involved in brokering the deal.
Goldman and Blumenfeld representatives did not immediately respond to the publication's requests for comment.