News:
Brokerage
Posted: April 19, 2016
Knakal, Svetlakou and Hageman of Cushman & Wakefield exclusively represent seller in $17 million sale of 1623 Kings Hwy.; Cahane of Forte Capital acts for buyer
Robert Knakal, Cushman & WakefieldBrooklyn, NY Cushman & Wakefield has sold a mixed-use building at 1623 Kings Hwy., located on the corner of Kings Highway and East 17th St. in the Gravesend neighborhood. The all-cash transaction is valued at $17 million
The four-story, newly built building has 137 ft. of retail frontage totaling 21,960 gross s/f. The building is fully leased to Verizon Wireless, Tiger Schulman’s and Interborough Consulting.
Bob Knakal, chairman, New York investment sales at Cushman & Wakefield exclusively represented the seller with Alex Svetlakou and Jonathan Hageman. The buyer was represented by Chaim Cahane, president at Forte Capital Management, LLC.
“Retail assets across the city continue to see strong demand. The outer boroughs have become increasingly popular with retail property investors as evidenced by the tremendous activity this property produced,” said Knakal.
Kings Highway is one of the major commercial thoroughfares within south Brooklyn, making it a desirable location for national retailers. Additionally, Gravesend is well-situated in terms of transportation as Coney Island, Ocean Parkway and the Belt Parkway provide easy access to the shopping and nightlife of Bay Ridge, Sheepshead Bay and Bergen Beach.
Cushman & Wakefield is a leading global real estate services firm that helps clients transform the way people work, shop, and live. The firm’s 43,000 employees in more than 60 countries provide deep local and global insights that create significant value for occupiers and investors around the world. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $5 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory.
Tags:
Brokerage
MORE FROM Brokerage
Investment Property Realty Group closes $2.175 million sale of 247 Leonard St.
Brooklyn, NY Investment Property Realty Group (IPRG) closed the sale of 247 Leonard St., a multi-family building located in the Williamsburg section of the city, for $2.175
Columns and Thought Leadership
The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian
There was a time when an offering memorandum (OM) was pretty bare bones, some photos, a few bullet points on income, and a rent roll thrown in at the back. That used to get the job done. Not anymore. In 2025, buyers are sharper, faster, and more selective. They’re looking
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.
Artificial intelligence in lending - by Lindsay Mesh Lotito
Artificial intelligence (AI) is beginning to help transform lending by enhancing decision-making, improving risk management and streamlining operations. With AI-powered tools that analyze vast amounts of data, lenders are able to assess borrower creditworthiness more accurately and efficiently. AI can evaluate a wide range of factors,
Hunt commercial real estate question and answer: The total cost of relocation - by David Hunt
You have a right to be concerned. I am always surprised at the companies that will negotiate the price of their new facility down to the last dollar, without thoroughly analyzing their
.gif)
August Promotion
