NEW YORK CITY-The sale of the King’s Plaza shopping center in Brooklyn beat out all comers as the largest property sale here in 2012.
The $751-million sale of the 1.2-million-sf retail center by Vornado Realty Trust to Macerich of Santa Monica, CA garnered the top spot of Real Capital Analytics’ top 25 deals for 2012. Macerich’s other notable NY properties include the Queens Center in Elmhurst, Queens and the Cross County Shopping Center up the New York State Thruway in Yonkers.
Vornado’s acquisition of the retail condominium at 666 Fifth Ave. from Carlyle Group and Crown Acquisitions took the second spot on the list, according to a report in Crain’s New York Business. A total of 11 office deals made it to the 2012 top 25 list, down from 16 the previous year. See story in Crain’s New York Business.