Top 5 Retail Space Sales

PropertyShark compiled the top 5 sales in retail recorded in May 2018 in New York City.

Source: PropertyShark, a Yardi Systems Inc. company

  1. 1350 Pennsylvania Ave., Brooklyn

    1350 Pennsylvania Ave., Brooklyn

    Sale Price: $35,000,000

Sold in a portfolio with 1461, 1506, 1279, 1266, 1325 and 1155 Pennsylvania Ave., as well as 186 and 177 Vandalia Ave., 1540 Van Siclen Ave., 1426 Freeport Loop, 180 Bethel Loop, 155 Schroeders Ave. and 1260 Croton Loop, the two-story, 1974-built Spring Creek Plaza Shopping Center comprises 150,460 square feet across 15 units. The asset’s tenants include City Fresh Market, Starrett Dental Group, HSBC Bank, Boston Market, CVS Pharmacy, Dunkin Donuts and Payless.

  1. 2067 Coney Island Ave., Brooklyn
    Sale Price: $30,500,000

Sold along with 1100 Kings Hwy., this property located in Sheepshead Bay features one story. Constructed in 2006, the 8,000-square-foot building is home to women’s clothing store Annie Sez and was sold by New York REIT Inc. According to a released statement, the asset was encumbered by a $15.8 million mortgage loan which was fully satisfied at closing. After satisfaction of debt, pro-rations and closing costs, the company received net proceeds of approximately $13.7 million. 

  1. 154 E. 79th St., Manhattan
    Sale Price: $12,750,000

Home to restaurants Candle 79 and Vegi, the 4,080-square-foot property is split between 1,840 square feet of residential and 2,240 square feet of retail. The four-story asset is estimated to have been built in 1931 and houses two commercial units. The apartments are averaged at 613 square feet.

  1. 1331 Jerome Ave., Bronx
    Sale Price: $11,100,000

Comprising 11,751 square feet across five commercial units, this building also offers 576 square feet of garage space. The property is leased by Drinks Galore Inc., a beer and soda wholesale distributor. Located in the Highbridge neighborhood of the Bronx, the asset is situated on a 22,914-square-foot lot in the Jerome Avenue Rezoning Corridor. According to Cushman & Wakefield, the leasing agents for the sale, 1331 Jerome Ave. was in a proposed zoning that will allow a developer to now build 164,980 square feet of residential space on the site.  

  1. 43-24 Queens Blvd., Queens
    Sale Price: $9,900,000

Located on the southwest corner of Queens Boulevard and 44th Street, the 8,521-square-foot building features 95 feet of retail frontage comprised of eight tenants including Dave’s Bagels, Malingo and Amazon Pharmacy. Situated a few blocks from the 46th Street 7 subway station, the single-story property is within a 20 minute reach to Grand Central Terminal and four miles from east Manhattan.

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