Top 5 NYC Retail Building Sales—February 2023
PropertyShark collected the top deals of the month for the sector.
Source: PropertyShark, a Yardi Systems Inc. company
Sale Price: $11,275,000
A private investor acquired the four-building property totaling 13,597 square feet and the single-building 193-02 Northern Blvd. encompassing 5,952 square feet in Auburndale. Woori America Bank facilitated the transaction with a $5.5 million acquisition loan. Four of the two-story buildings were built in 1959 and renovated in 2012, while the fifth was added in 2005.
Sale Price: $6,450,000
Urban Standard Capital sold the two-story retail building totaling 5,559 square feet in Park Slope to Red Rock Investments. The property last traded in mid-2021 when the current seller paid $8.5 million for the single-unit asset. Nearby transportation options include the R train just a block away at the corner of 4th Avenue and Union Street and the B63 bus line at the intersection of Fifth Avenue and Union Street.
Sale Price: $6,350,000
A private investor sold the two-story retail property totaling 5,650 square feet in Williamsburg. The buyer secured a nearly $5 million loan financed by Bayport Funding LLC for the purchase. The new owner has already filed for permits to expand the building. The four-story development will total 7,604 square feet of which 6,823 square feet across eight units are designated as residential, while the remaining space will be set aside for commercial use.
Sale Price: $5,920,000
Meridian Capital Group arranged the sale of the former bank building totaling 8,400 square feet in Flatbush. The 1932-built property was home to variety of banks from The Lincoln Savings Bank of Brooklyn to Freedom National Bank of NY. The two-story building was later converted and leased to McDonalds. Current tenants are Burger King and an orthodontics practice.
Sale Price: $3,450,000
A private investor purchased the three-story retail building encompassing 6,720 square feet in Midwood. The buyer secured a $1.6 million acquisition loan provided by Cross River Bank. Built in 1931, the mixed-use property includes two residential units as well as five commercial units across 2,160 square feet of office space and 2,400 square feet of retail space.
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