Top 5 Retail Space Sales

PropertyShark compiled the top 5 sales in retail for October 2018 in New York City.
Source: PropertyShark, a Yardi Systems Inc. company
  1. 88-15 Queens Blvd. #FC-U, Queens
    88-15 Queens Blvd. #FC-U, Queens

    Sale Price: $82,967,450

This enclosed shopping center is situated in the neighborhood of Elmhurst, within close proximity to the M and R subway lines at the intersection of 54th Street and Queens Boulevard. The property, known as Queens Place Mall, is home to retailers such as Target, Best Buy, Macy’s, Starbucks and DSW. According to the Commercial Observer, back in April 2018, former owner Madison International Realty landed $100 million in refinancing for the asset, which replaced and consolidated $77 million in old debt with a new $23 million gap mortgage.

  1. 72-17 Queens Blvd., Queens
    Sale Price: $18,539,885

According to The Real Deal, the Hakimian Organization purchased the site, along with 72-01 Queens Blvd. and 72-30 45th Ave., through a joint venture between Gorjian NY, Imagine Capital Group and CH Capital Group. The seller was Piermont Properties. The asset will be redeveloped into a mixed-use property with retail, parking and more than 400 residential units, split between market rate and affordable. Built in 1946, the building was last altered in 2005, and currently stands two stories totaling 36,168 square feet. The property is located nearly half a mile from the E, F/M, R and 7 subway lines at the corner of 75th Street and Broadway.

  1. 459 & 461 Fulton St., Brooklyn
    Sale Price: $15,000,000

Home to Payless Shoesource, this four-story building comprises 2,516 square feet. The 1920-built property is located in downtown Brooklyn, with close access to the A/C, F and R subway lines at the intersection of Jay and Fulton Streets, as well as the B25, B26, B28 and B52 bus routes.

  1. 571 Fulton St., Brooklyn
    Sale Price: $14,500,000

This property, situated on a 4,190-square-foot lot in downtown Brooklyn, features two commercial units. The building offers 4,125 square feet of office, 4,125 square feet of retail and 2,372 square feet of storage space across two stories. Built in 1915, the asset was last altered in 1995, and offers access to the B and Q/R subway lines at the corner of Flatbush and De Kalb Avenues.

  1. 53-63 W. Fordham Road, Bronx
    Sale Price: $10,100,000

This one-story property offers 11,719 square feet divided among six commercial units. Located in Fordham, with access to the 4 subway line at the intersection of Jerome Avenue and Fordham Road, the 1921-built asset is situated on a 14,455-square-foot lot.