Brooklyn Retail Space Goes for $5M

NEW YORK CITY-A two-story property in southwest Brooklyn is selling in an all-cash transaction of $5 million. Located at 2201 86th St. in Brooklyn’s Bensonhurst neighborhood, the fully-leased property sits in one of the area’s busiest retail corners. Buyer and seller were not disclosed.

“There were numerous bidders for this very desirable property and the marketing process lasted less than two months,” says Massey Knakal broker Jeffrey Shalom in a release. Shalom, who exclusively represented the seller, adds that despite the low initial return offered because of the lease in place, “the buyer is looking forward to eventually leasing the building to a highly-rated tenant for the full market rent that this location can generate.”