facebook
TradedTraded
    Home
    Search
    Closings
    Listings
    On Market
    Off Market
    Add a listing
    Vaults
    shh
    Rankings
    News
    Data
    Socials
    More


Messages

Go Pro
+ Submit+ Submit a Deal
Home

/

Deals

/

New York

/

Retail

/

Lease

/

458 86th Street

LEASEDRetail

Drew Gorman Of MCB Real Estate Leases 44,070 Square Feet To Michael O’Sullivan In Brooklyn

458 86th Street

Building Size

44,070 SF

Asset Type

Retail

Closing

Aug 19, 2026

AI

The property asset involved in this transaction is a retail space located at 458 86th Street, Brooklyn. This asset has a total square footage of 44,070 and is part of a $130 million mixed-use redevelopment known as Century Marketplace, which occupies the former Century 21 site.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $130 million
  • Address: 458 86th Street
  • Market: Brooklyn
  • Landlord: Drew Gorman - MCB Real Estate
  • Tenant: Michael O’Sullivan - Burlington

The key individuals in this transaction include Drew Gorman, representing the landlord, MCB Real Estate, and Michael O’Sullivan, representing the tenant, Burlington. Their roles highlight the collaboration between the parties involved in securing the lease agreement for this significant retail space.

Players

Drew Gorman

MCB Real Estate

Landlord

1 deal

Landlord

Michael O’Sullivan

Burlington

Tenant

1 deal

Tenant

Brooklyn Retail Market Snapshot

Boundary boundary · Retail · Lease transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93