Schuckman of Schuckman Realty arranges sale of 142 Court Street

Retail investors Clerestory Properties and Sivan Properties recently closed on 142 Court St., at the corner of Pacific St. The property was sold in an off-market transaction, arranged by Schuckman Realty's Kenneth Schuckman. The property's retail tenants include Splendid, the Los Angeles-based clothing chain, as well as boutique fitness studio Brooklyn Strength. The three-story building includes two residential units above, which were recently renovated. Clerestory Properties, led by Daniel Cayre, acquires and develops retail and mixed-use properties in the boroughs, with a focus on Brooklyn and Queens; Sivan Properties is headed by Daniel Mermel and is primarily active in the boroughs, Long Island, and Washington D.C. "We take a long-term scope when approaching assets like 142 Court and believe that the area will continue to grow and attract residential and commercial development alike," said Cayre. He added that the area's residential rents provide short to midterm appreciation while the building's retail represents its long-term value. Schuckman, who represented both the seller and the purchasers, has been increasingly active in the Downtown Brooklyn area. "We've been seeing continued interest in Downtown Brooklyn, both from national retailers and as well as investors," said Schuckman. Schuckman declined to comment on the building's purchase price.