{"id":1004743327,"date":"2025-01-28T06:49:06","date_gmt":"2025-01-28T14:49:06","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004743327"},"modified":"2025-01-22T06:51:01","modified_gmt":"2025-01-22T14:51:01","slug":"top-5-nyc-retail-building-sales-december-2024","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/top-5-nyc-retail-building-sales-december-2024\/","title":{"rendered":"Top 5 NYC Retail Building Sales\u2014December 2024"},"content":{"rendered":"<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"266\" data-attachment-id=\"1004743996\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/top-5-nyc-retail-building-sales-december-2024\/0225_cpe_ps_retail\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/01\/0225_CPE_PS_retail.jpg\" data-orig-size=\"800,266\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"0225_CPE_PS_retail\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/01\/0225_CPE_PS_retail.jpg?w=800\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/01\/0225_CPE_PS_retail.jpg\" alt=\"The Top NYC Retail Sales of December 2024\" class=\"wp-image-1004743996\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/01\/0225_CPE_PS_retail.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/01\/0225_CPE_PS_retail.jpg?resize=300,100 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/01\/0225_CPE_PS_retail.jpg?resize=768,255 768w\" sizes=\"auto, (max-width: 800px) 100vw, 800px\" \/><figcaption class=\"wp-element-caption\">Source: PropertyShark, a Yardi Systems company<\/figcaption><\/figure><\/div>\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.propertyshark.com\/mason\/Property-Report\/?propkey=184727\" target=\"_blank\" rel=\"noreferrer noopener\">133 Kent Ave., Brooklyn<\/a><\/li>\n<\/ul>\n\n\n\n<p>Sale Price: $45.3 million<\/p>\n\n\n\n<p>Joyland Group, in joint venture with Prospect Development, has acquired the 5,000-square-foot retail building in Williamsburg from L3 Capital. The buyer secured $85 million in construction financing through a collateral mortgage provided by S3 Capital.<\/p>\n\n\n\n<p>The partnership plans to continue and complete the conversion project at the property, that will result in a six-story mixed-use building with 43 condominium units and 17,500 square feet of retail space, according to <em>CityBiz<\/em>. The same source reveals that JLL represented the seller, procured the buyer and arranged the financing. The one-story building at 133 Kent Ave. was completed in 1950 and has 60,000 square feet of unused air rights.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.propertyshark.com\/mason\/Property-Report\/?propkey=22127\" target=\"_blank\" rel=\"noreferrer noopener\">690 Madison Ave., Manhattan<\/a><\/li>\n<\/ul>\n\n\n\n<p>Sale Price: $34 million<\/p>\n\n\n\n<p>Wharton Properties picked up the 6,620-square-foot retail property in Manhattan\u2019s Lenox Hill from SL Green. According to <em>The Real Deal<\/em>, the buyer bought a 50 percent ownership stake from SL Green. The same source shows that Eastdil Secured represented the seller. <\/p>\n\n\n\n<p>The five-story property includes 1,324 square feet of office space and 7,674 square feet of unused air rights. In a recent deal, Van Cleef &amp; Arpels luxury jewelry brand signed a leasing agreement for all five floors, according to the company\u2019s website.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.propertyshark.com\/mason\/Property-Report\/?propkey=141235100\" target=\"_blank\" rel=\"noreferrer noopener\">422 Fulton St., Brooklyn<\/a><\/li>\n<\/ul>\n\n\n\n<p>Sale Price: $23 million<\/p>\n\n\n\n<p>Macy\u2019s has sold the 438,498-square-foot retail portion of a 14-story building in downtown Brooklyn to three entities. The buyers include a group of investors led by United American Land, Crown Acquisitions and The Jackson Group. Totaling 844,378 square feet, the building dates back to 1920 and was used as a Macy\u2019s department store that first opened in 1995.<\/p>\n\n\n\n<p>Macy\u2019s sold the property\u2019s upper floors to Tishman Speyer in 2015, where the company constructed 622,000 square feet of office space, in a portion of the building dubbed The Wheeler. The remaining four floors that sold are part of Macy\u2019s strategy to close up to 150 stores in the U.S., in a period of three years. In 2025, the company will close up to 66 locations, in an effort to turn a profit and invest in its remaining locations and brands.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.propertyshark.com\/mason\/Property-Report\/?propkey=1173\" target=\"_blank\" rel=\"noreferrer noopener\">17-23 Avenue of the Americas, Manhattan<\/a><\/li>\n<\/ul>\n\n\n\n<p>Sale Price: $18.1 million<\/p>\n\n\n\n<p>Local development company Sumaida + Khurana purchased the 11,700-square-foot retail building in the borough\u2019s TriBeCa neighborhood from affiliates of the Matera family. Cerco Funding provided $15.3 million in acquisition financing for the buyer. <\/p>\n\n\n\n<p>The three-story building includes 4,450 square feet of office space, as well as 2,800 square feet of residential space. The property was home to Tribeca Pharmacy, that vacated the building earlier last year, according to <em>New York Business Journal<\/em>.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.propertyshark.com\/mason\/Property-Report\/?propkey=641987\" target=\"_blank\" rel=\"noreferrer noopener\">9305 5th Ave., Brooklyn<\/a><\/li>\n<\/ul>\n\n\n\n<p>Sale Price: $17 million<\/p>\n\n\n\n<p>Staples Inc. has sold the 12,880-square-foot retail property in the Bay Ridge neighborhood to a private buyer. The new ownership secured a $10 million loan from Castellan Capital. The one-story property dates back to 1958 and served as one of Staples Inc.\u2019s stores. It includes 65,130 square feet of additional air rights and is close to multiple bus stops, as well as to the Bay Ridge subway station on 95th Street.<\/p>\n\n\n\n<p>\u2014Posted on January 28, 2025<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A roundup of recent major transactions put together by PropertyShark.<\/p>\n","protected":false},"author":1269,"featured_media":1004743998,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[37756,1600,21742,10,37749,37790],"tags":[52395],"class_list":["post-1004743327","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-rc-investment","category-new-york","category-latest","category-northeast","category-research-center-cpe","category-rc-retail-nyc-spotlight","tag-propertyshark"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Top 5 NYC Retail Building Sales\u2014December 2024 - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"A roundup of recent major transactions put together by PropertyShark. 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