Crown Acquisitions Purchases Retail Mall From Macy’s Retail Holdings For $16 Million In Staten Island

A retail asset located at 112 Richmond Hill Road in New Springville, Staten Island was sold for $16,000,000. The property features a total square footage of 319,000. With a building size factor of 1,021,538, the price per building square foot stands at $16, while the price per square foot is $50.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $16,000,000
• Buyer: Crown Acquisitions
• Seller: Macy’s Retail Holdings, LLC
• Address: 112 Richmond Hill Road
• Market: New Springville, Staten Island
• Building Size Factor: 1,021,538
• Price per Building Square Foot: $16
• Square Footage: 319,000
• Price per Square Foot: $50

Crown Acquisitions, through CDMSI LLC, was the buyer in this transaction, acquiring the property from Macy’s Inc. The deal highlights the active involvement of both parties in the suburban retail market.