Patrick Kim Acquires NNN Retail Property In Bedford Stuyvesant For $2M

1114 Fulton Street, located in Bedford Stuyvesant, was recently sold in a closed transaction for $2,000,000. This NNN Retail property spans 2,960 square feet and was sold at a price of $675 per square foot. The building size is 9,172 square feet and the price per square foot for the building size is $218. The capitalization rate for this transaction was 5.3%.

Summary of transaction details

• Property Type: NNN Retail w/ Future Redevelopment Potential
• Transaction Amount: $2,000,000
• Square Footage: 2,960 SF
• Price per Square Foot: $675
• Building Size: 9,172 SF
• Price per Building Size: $218
• Capitalization Rate: 5.3%

The seller of the property was Mike Moselum, while the buyer was Patrick Kim. Josh Lipton and Andrew Levine from Invictus Property Advisors, along with Stephen Ramkelawan, represented the parties involved in this transaction.