The Reel

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A blog for breaking sales and neighborhood real estate news.

A retail building at 10309 Glenwood Road, located between 103rd and 104th Streets in Brooklyn’s Canarsie neighborhood, was sold in an all-cash transaction valued at $2,650,000.

The single-story concrete block building contains approximately 7,560 square feet and sits on a 140’ x 90’ lot.  It consists of six units, all net-leased with long-term tenants.  The sale price equates to approximately $351 per square foot.

“This retail property contains six retail tenants and is anchored by Fine Fare Supermarket, who recently signed a 10-year lease allowing them to occupy the space through 2023.  It was purchased at a 7.5% capitalization rate,” said Massey Knakal’s Edward Gevinski, who exclusively handled this transaction.

Click here for press release

Neighborhoods: Canarsie