Top 5 NYC Retail Building Sales—April 2024
A recap of recent major transactions compiled by PropertyShark.
Sale Price: $25,000,000
A private investor purchased the 23,780-square-foot retail property in Queen’s neighborhood of Forest Hills. The single-story building that changed hands from multiple private sellers, was originally completed in 1963 and last upgraded in 2010.
Sale Price: $12,605,000
Prada acquired a retail unit of 4,406 square feet of space at 730 Fifth Ave., a 26-story mixed-use property totaling 346,858 square feet in Central Midtown. The retail asset at the 1921-constructed building changed hands from Brookfield Properties, but the deal was part of the agreement between Prada and Jeff Sutton’s Wharton Properties, according to The Real Deal.
Sale Price: $9,382,000
In another deal, Wharton Properties sold the 12,500-square-foot, one-story retail building at 499 Myrtle Ave., in Brooklyn’s Clinton Hill neighborhood. The property was acquired by a private investor. Built in 1969 and most recently upgraded in 2006, the building’s roster includes Bank of America, that has been at the property since 2006 and recently extended its 6,250-square-foot lease through 2034, according to New York Business Journal.
Sale Price: $7,500,000
A private investor acquired the 8,800-square-foot retail property situated in Queen’s Jamaica neighborhood. The one-story building changed hands from a private individual and previously traded in 1984. The retail building has been occupied by a single tenant since 2011 and is close to multiple bus stops as well as to the 169th Street subway station.
Sale Price: $7,150,000
A private entity acquired the 12,250-square-foot retail building in Queens’ Bayside neighborhood. The two-story retail property was originally built in 1962 and changed hands from a private seller that owned the asset since 1968. Maspeth Federal Savings Bank originated a $1.7 million balloon mortgage on behalf of the buyer.
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