Ground Lease REIT Acquires Long Island City Waterfront Warehouse for $95 Million

A Long Island City warehouse at 10-01 45th Road has been sold by the Holterbosch family to Dallas-based Ground Lease REIT, an affiliate of commercial real estate private equity firm Montgomery Street Partners, for $95 million. The transaction was made public via a deed filing on Thursday, September 17, 2026.

The Holterbosch family, through Hans Holterbosch Inc., had owned the property since approximately 1968. The site, located on the Long Island City waterfront near the Eleventh Street Basin inlet of the East River, is noted for its potential for future development as the surrounding neighborhood continues its transformation. This sale follows a previous disposition by Heidi Holterbosch in 2017 of an 8-acre site at 55-01 Second Street, which was rezoned for residential use and subsequently developed by TF Cornerstone. The recent acquisition by Ground Lease REIT underscores the ongoing investor interest in prime Long Island City properties with redevelopment prospects.