Updated Oct 29, 2024
Food Bazaar Acquires 8.6-Acre Assemblage In Brooklyn For $40M
2770 Linden Blvd Brooklyn, NY 11208, USA
$40,000,000
$571/SF
Building Size
70,000 SF
Asset Type
Commercial
Closing
Jul 17, 2023
About this deal
AI
Food Bazaar Supermarkets, a Brooklyn-based chain, has acquired an 8.6-acre assemblage in East New York for $40 million. The transaction includes four sites located on Linden Ave and Loring Ave, which incorporates a 70,000-square-foot movie theater at 2770 Linden Blvd.
Summary of transaction details
- Property Type: Commercial
- Transaction Amount: $40,000,000
- Property Address: 2770 Linden Blvd
- Market: Brooklyn
- Asset Type: Commercial
- Acres: 8.6
The seller in this transaction was National Amusements, represented by Shari Redstone. On the other hand, Food Bazaar was represented by its own Edward Atoule. Acting as the broker in the deal was Atlantic Retail. The lender involved in this transaction was Acore Capital.
On the Map
$40,000,000
$571/SF
Commercial
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Players
Elmont Commercial Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.40%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93