Murray McCabe's Ground Lease REIT Acquires Retail Asset In Crown Heights For $9.65M
1104 Pacific Street & 1112 Pacific Street
$9,650,000
$241/SF
Building Size
20,009 SF
Asset Type
Retail
Closing
Apr 21, 2026
About this deal
AI
Murray McCabe’s Ground Lease REIT has acquired a retail asset situated at 1104-1112 Pacific Street in the Crown Heights neighborhood of Brooklyn. The retail property encompasses a total square footage of 20,009 and was sold for a price of $9,650,000, translating to approximately $482 per square foot.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $9,650,000
- Buyer: Murray McCabe - Ground Lease REIT
- Seller: Tina Georgi
- Square Footage: 20,009
- Price per Square Foot: $482
- Transaction Date: 04/21/2026
- Market: Crown Heights, Brooklyn
This transaction highlights the involvement of Murray McCabe representing Ground Lease REIT in the procurement of this retail property from seller Tina Georgi. The deal reflects strategic investment activity within the Brooklyn real estate market.
Players
Brooklyn Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.64%
Cash-on-Cash
-0.47%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93