Joel Jacob Acquires Retail Property In Georgetown For $5.65M

A retail property located at 2102 Ralph Ave. in Georgetown has been sold for $5,650,000. The property spans 11,926 square feet, resulting in a price per square foot of $473. The sale took place on May 26, 2022.

Summary of transaction details

• Property Type: Retail
• Transaction Amount: $5,650,000
• Address: 2102 Ralph Ave.
• Market: Georgetown

The buyer of the property was Joel Jacob. Representing the buyer in the deal was Baruch Edelkopf from Schuckman Realty INC. The seller was assisted by Schuckman Realty's Steven Hakakian and Matt Colantonio. The transaction also involved a bridge loan provided by David Samuels and Isaac Fried from Skybrook Capital.

The building was originally tenanted by Chase, Capital One, and Metro PCS By T-Mobile. Schuckman Realty's leasing and sales teams collaborated on the deal, with the leasing team generating interest from multiple national tenants. This led to the identification of a buyer who recognized the opportunity to reposition the vacant retail space.

For more information about leasing availabilities, interested parties can reach out to Baruch Edelkopf and Steven Hakakian.

A special thanks goes to David Samuels and Isaac Fried from Skybrook Capital for their assistance with the bridge loan.