M.C. O'Brien, Inc. has completed the sale of three parcels for a combined consideration of $9.3 million in the Flatbush section. The three properties include The Flatbush Federal Savings and Loan Building located at 2146 Nostrand Ave. This building is 15,000 s/f and benefits from over 220' of frontage on three streets and is located at the intersection of Flatbush, Nostrand and Hillel Place. The building will be vacated by the bank and occupied by Dallas BBQ. In addition to this property, a one-story building previously occupied by White Castle was delivered vacant to the buyer and a 15,000 s/f parking lot was also delivered vacant, both of which are right at the subway entrance. All three properties are located in the "Junction."
The buyer is a New York-based investor who closed on an all cash basis. William O'Brien, SIOR and Karen Cohen of M.C. O'Brien, Inc. were the sole brokers in the sale.
The transaction was notable in that the buyer will replace The Flatbush Federal building with a newly constructed building on a portion of the 15,000 s/f lot which the bank will own upon completion. Tags: