Portelli and Goldflam of Highcap broker $765,000 sale of retail strip

June 22, 2010 - Front Section

232-250 South Fulton Avenue - Mount Vernon, NY

Christen Portelli, Highcap Group

Josh Goldflam, Highcap Group

Christen Portelli and Josh Goldflam, managing principals of Highcap Group, represented both the seller and purchaser on the purchase and $765,000 sale of 232-250 South Fulton Ave., a distressed retail strip center. The one-story, 12,500 s/f brick building consisted of nine retail stores, most of which were vacant. The property was purchased after foreclosure in early 2009 and was resold at $62 per s/f, less than the 2007 purchase price of $1.05 million. The new owner plans to renovate the premises before leasing the vacant stores.