Sigourney, Balisky and Venekas of CPEX sell three retail properties - $6.45 million

Andre Sigourney, CPEX Real Estate

Harrison Balisky, CPEX Real Estate

Dimitri Venekas, CPEX Real Estate

New York, NY The CPEX Real Estate retail investment sales team has sold three retail properties totaling $6.45 million. CPEX retail sales team, consisting of managing director Andre Sigourney and associates Harrison Balisky and Dimitri Venekas, represented the owner in the sale of all three retail buildings, including 3482-3492 Nostrand Ave. and 1005 Flatbush Ave. in Brooklyn, and 231 Beach 116^th St. in Queens.

3482-3492 Nostrand Avenue - New York, NY

“Our specialization in retail sales and resultant marketing strategies allow us to find the right buyer and achieve the maximum price for our clients, even as the market has pulled back compared to recent years,” said Sigourney. “Through our marketing process, we found a variety of buyers for these transactions, including an end-user, 1031 exchange, and buyers searching for a pure investment property. With activity in the retail sales market starting to pick up again and motivated sellers offering more realistic cap rates, we have seen a greater number and variety of buyers at the table.”

3482-3492 Nostrand Ave., home to Perry’s Seafood Restaurant in Sheepshead Bay, sold for $3.8 million at a 5.17% capitalization rate. The property has a footprint of 105’ x 100’ and consists of a one-story retail building with on-site parking. The building totals 3,418 gross s/f and a full basement.

1005 Flatbush Avenue - New York, NY

1005 Flatbush Ave., across from the Kings Theatre in Flatbush, sold for $1.89 million in an all-cash transaction. The three-story retail building consists of 3,420 gross s/f and a full basement, with an additional 4,280 s/f of air rights. The property was delivered vacant.

231 Beach 116th St., directly across from the Rockaway Park Beach 116th St. subway station in Rockaway Park, sold for $975,000. The two-story retail building measures 2,050 s/f on each floor. The property was delivered vacant.