Astoria’s Kaufman Astoria Studios Sold for $210M in High-Stakes Real Estate Deal

• Kaufman Astoria Studios sold for $210 million on June 4, 2024.
• Buyer is Hackman Capital Partners, already invested in Silvercup Studios.
• Studio complex spans 500,000 square feet in Astoria’s Kaufman Arts District.

Kaufman Astoria Studios, the nearly century-old film campus at 34-12 36th St, has officially been acquired by Hackman Capital Partners for $210 million as of this Tuesday. The deal, confirmed by real estate broker Cushman & Wakefield, is the latest sign that the film and TV production surge in Queens is turning studio space into prime property.

Hackman Capital Partners, the company behind several major studio acquisitions in LA and New York — including a controlling stake in Silvercup Studios on 35th Ave — is now consolidating its presence in Astoria. Local business owners on 35th Ave told NYC Pulse the deal has already sparked speculation about more incoming productions and new jobs in the neighborhood.

Astoria’s Kaufman Studios has hosted everything from ‘Sesame Street’ to ‘Orange Is the New Black’ in its 500,000 square feet of sound stages and offices. With streaming services like Netflix and Amazon shooting in Queens this spring, demand for studio space has sent prices soaring: according to NYCEDC, more than 2,000 film permits were issued in Queens in the past year.

Real estate tracking site PincusCo confirmed that the sale price set a new high for studio properties in Queens. Residents on 36th Street say they’re watching for how the influx will impact rents, jobs, and the already-busy film corridor near the M/R subway stop at Steinway.

Frequently Asked Questions

Who bought Kaufman Astoria Studios and when?

Hackman Capital Partners, a real estate firm specializing in media properties, purchased Kaufman Astoria Studios for $210 million. The deal closed on June 4, 2024, marking the studio’s first ownership change in decades.

How big is Kaufman Astoria Studios and what productions have filmed there?

The studio complex spans about 500,000 square feet and includes multiple sound stages, backlots, and office space. Productions like ‘Sesame Street,’ ‘The Irishman,’ and ‘Orange Is the New Black’ have filmed at Kaufman.

What impact will this sale have on Astoria and Queens?

The sale is expected to increase film and TV production in Astoria, potentially generating more jobs and raising local real estate prices. Business owners and residents anticipate more activity and possible changes in rents and neighborhood dynamics.