Klosed Properties acquires 6,048 s/f condo building

Brooklyn, NY Klosed Properties has acquired 541 Myrtle Ave., a commercial condominium building. The property consists of three retail units combined for a total of 6,048 s/f in the Clinton Hill neighborhood.

The acquisition price has not been disclosed.

“Clinton Hill is our home. We’ve always been comfortable with investing there and will continue to be one of the most active purchasers of property on Myrtle Ave.,” said Ryan Powers-Tapp, managing director with Klosed Properties. “We’ve purchased this property from the sponsor with the original tenants who are currently paying less than half of the avenues average retail rent. With the new pedestrian plaza and Pratt University’s new 10-story 190-unit dormitory going up one block away, we don’t see foot traffic slowing down any time soon on Myrtle Ave.”

Tags: Brokerage

Reprint

Previous Story Next Story

AmTrustRE completes $211m acquisition of 260 Madison Ave.

Manhattan, NY AmTrustRE has completed the $211 million acquisition of 260 Madison Ave., a 22-story, 570,000 s/f office building. AmTrustRE was self-represented in the purchase. Darcy Stacom and William Herring

Area 15 welcomes new tenant openings, signs more experiences coming

SABRE coordinates sale of six properties totaling 199,845 s/f

Polsinelli and Curcio of Compass arrange 22,000 s/f Urban Umbrella lease

Project REAP honored by ICSC for leadership and impact in Commercial Real Estate

READ ON THE GO

DIGITAL EDITIONS

Browse Now

Quick Hits

Finance

Hempstead IDA gives final approval to benefits package for senior apartments in North Bellmore

Columns and Thought Leadership

AI comes to public relations, but be cautious, experts say - by Harry Zlokower

Last month Bisnow scheduled the New York AI & Technology cocktail event on commercial real estate, moderated by Tal Kerret, president, Silverstein Properties, and including tech officers from Rudin Management, Silverstein Properties, structural engineering company Thornton Tomasetti and the founder of Overlay Capital Build,

Strategic pause - by Shallini Mehra and Chirag Doshi

Many investors are in a period of strategic pause as New York City’s mayoral race approaches. A major inflection point came with the Democratic primary victory of Zohran Mamdani, a staunch tenant advocate, with a progressive housing platform which supports rent freezes for rent

Lasting effects of eminent domain on commercial development - by Sebastian Jablonski

The state has the authority to seize all or part of privately owned commercial real estate for public use by the power of eminent domain. Although the state is constitutionally required to provide just compensation to the property owner, it frequently fails to account

Behind the post: Why reels, stories, and shorts work for CRE (and how to use them) - by Kimberly Zar Bloorian

Let’s be real: if you’re still only posting photos of properties, you’re missing out. Reels, Stories, and Shorts are where attention lives, and in commercial real estate, attention is currency.