French and Traver of Marcus & Millichap arrange $8.175 million sale

Ellenville, NY Marcus & Millichap completed the sale of ShopRite Plaza, a 56,555/f net-leased property, according to John Krueger, regional manager of the firm’s Westchester office. The asset sold for $8.175 million.

Joseph French Jr. and Kodi Traver, investment specialists in Marcus & Millichap’s Westchester office, had the exclusive listing to market the property on behalf of the seller, a private investor. The buyer, a private investor, was secured and represented by Traver and French. Financing was secured by Steve Rock of MMCC in the Westchester office.

John Krueger, regional manager for the Westchester office, assisted in closing this transaction.

ShopRite Plaza is located at 100 Shoprite Blvd. on 11.74 acres.

French said, “The property was under contract in February, but due to the pandemic that sale fell through. Owner wanted certainty of sale. Therefore, we decided to auction the property and were able to generate interest from 8 bidders. We successfully closed within 90 days at a price acceptable to both buyer and seller.”

Tags: Brokerage

Reprint

Previous Story Next Story

Marcus & Millichap brokers $2.8 million sale of free-market mixed-use property in Brooklyn

Brooklyn, NY Marcus & Millichap brokered the sale of 733 Dekalb Ave., a fully free-market multifamily and retail property in the Bed-Stuy neighborhood. The asset sold for $2.8 million.

Investment Property Realty Group’s Team Friedman brokers seven Bronx closings totaling $12.07 million

IPRG’s Team Friedman brokers 7 Bronx closings totaling $12.07m

Highcap Group sells Astoria 17 unit elevatored apartment building

OPEN Impact R.E. helps Coney Island Prep. secure 39-year leasehold condominium for new 45,190 s/f high school

OPEN Impact helps Coney Island Prep. secure leasehold condo. for new high school

New York restaurant group acquires Upper West Side retail co-op for $4.135 million in deal arranged by Lee & Associates NYC

N.Y. restaurant group acquires Upper West Side retail co-op for $4.135m in deal arranged by Lee & Associates NYC

READ ON THE GO

DIGITAL EDITIONS

Browse Now

Quick Hits

Finance

JLL arranges $140m refinancing for a continuation vehicle of 8-property self-storage portfolio formed between Ardent Cos. and StepStone R.E.

Columns and Thought Leadership

Hunt commercial real estate question and answer: Fortune 500 wisdom - by David Hunt

Yes, there are lessons to be learned from the largest companies in America when comes to managing your real estate. But the decision to buy or lease real estate may not be one of

New York’s streets are full again, and the retail numbers prove it - by Noam Aziz

Walk down any New York block this year and you can feel it. The sidewalks are crowded, the storefronts are lit, and the energy that defines this city is back at full volume.

Positive forecast for New York’s pro-housing push? - by Philip Butler

New York’s housing crisis remains a hot button topic despite growing consensus that varied and affordable housing is desperately needed statewide. Governor Hochul has recently introduced several initiatives to overcome N.Y.’s anti-housing

A guide to finding the right NYC property management company - by Sanjay Gandhi

Being a small to midsize landlord in NYC is an increasingly demanding endeavor. From navigating complex regulations, increased compliance demands to dealing with tenant issues and remediating violations. It is wise to enlist the assistance of a partner, a professional