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
About this deal
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.
On the Map
Retail
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Players
Brooklyn Retail Market Snapshot
Boundary boundary · Retail · Lease transactions
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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