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3779 – 3861 Nostrand Ave./ Sheepshead Bay shopping center

NEW YORK CITY—Ashkenazy Acquisition Corporation closed on its $38.25 million purchase of an 81,000 square-foot shopping center in Sheepshead Bay, Brooklyn. The property address is 3779-3861 Nostrand Ave., in Sheepshead Bay, Brooklyn.

Current tenants at the shopping center include Aldi and Blink Fitness.

This deal was brokered by Paul J. Massey Jr.’s new real estate advisory services company that was launched in July 2018. B6 Real Estate Advisors’ Thomas Donovan, Eugene Kim, Tommy Lin and Robert Rappa represented the seller, LeFrak Organization. A source with knowledge of the deal tells GlobeSt.com that the property was originally placed under contract when the team was at Cushman & Wakefield.

Based in New York City, Ashkenazy Acquisitions is a real estate investment management company, that’s a big player in retail investments. It runs Boston’s Faneuil Hall and Washington DC’s Union Station. In 2017, it purchased a long-term lease of South Station, also in Boston, from Equity Office.

Last summer, Ashkenazy Acquisitions made headlines when an arbitrator ruled the real estate firm could practically double retailer Barney’s rent at its 660 Madison Ave. flagship location. The company also attracted global attention in the summer when along with other stakeholders it sold shares in the Plaza Hotel, to the government of Katar’s Katara Hospitality, which became the sole owner of the storied, trophy property.

Betsy Kim

Betsy Kim is the bureau chief, East Coast, and New York City reporter for Real Estate Forum and GlobeSt.com. As a lawyer and journalist, Betsy has worked as the director of editorial and content for LexisNexis Lawyers.com, a TV/multi-media journalist for NBC and CBS affiliated TV stations in the Midwest, and an associate producer at Court TV.

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