Portelli and Goldflam of Highcap broker $765,000 sale of retail strip

Christen Portelli and Josh Goldflam, managing principals of Highcap Group, represented both the seller and purchaser on the purchase and $765,000 sale of 232-250 South Fulton Ave., a distressed retail strip center. The one-story, 12,500 s/f brick building consisted of nine retail stores, most of which were vacant. The property was purchased after foreclosure in early 2009 and was resold at $62 per s/f, less than the 2007 purchase price of $1.05 million. The new owner plans to renovate the premises before leasing the vacant stores.