A private investor has acquired 2501-2511 86th Street, a 6,500-square-foot retail property located in Brooklyn, NY for $4.8 million and plans to site, as it allows for 20,000 square-feet as-of-right, and 48,000 square-feet with the community facility bonus, according to Marcus & Millichap investment specialist Scott Plasky, who helped broker the deal.
Marcus & Millichap represented the buyer and seller, both private investors, in the transaction. Plasky, Alexander Arustamian, Lazarus Apostolidis, investment specialists in Marcus & Millichap's Manhattan office, had the exclusive listing to market the property.
The property consists of two single-story commercial buildings totaling 6,500 rentable square feet plus a front parking lot for six cars with a curb cut on 86th Street. Both buildings have separate utilities, and both buildings will be delivered vacant at the closing.
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"We had a tremendous amount of activity on this site. It is rare to find a true value-add corner site next to a subway in Brooklyn," said Plasky.
The property is on a corner lot at the base of the subway entrance on the corner of 86th Street and 25th Avenue in Brooklyn's Bensonhurst neighborhood.
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