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OakCrest Realty Sells Retail Property In Brooklyn For $3.6M With Anand Melwani As The Broker

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SOLD
$3,600,000

New York

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Retail6,000 SF
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Property Image
SOLD

OakCrest Realty Sells Retail Property In Brooklyn For $3.6M With Anand Melwani As The Broker

1308 Avenue J

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Retail6,000 SF
Sold
the dealplayerscompscontact
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Summary

NEW YORK
Asset Type:Retail
Price Per Square Foot:$600
Total Square Footage:6000 SF
Transaction Type:Sale

The property sold is a retail asset located at 1308 Avenue J in Brooklyn. The sale price for the asset was $3,600,000, and it encompasses a total square footage of 6,000, resulting in a price per square foot of $600.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $3,600,000
  • Square Footage: 6,000
  • Price per Square Foot: $600
  • Seller: OakCrest Realty
  • Broker: Anand Melwani - Landair Advisors
  • Market: Brooklyn
  • Cap Rate: 5%
  • Unused Air Rights: 18,000 square feet

Anand Melwani, representing the seller OakCrest Realty, played a significant role in the transaction, highlighting his longstanding relationship with the family that owned the property. Over 20 years, he built trust and rapport, facilitating complex negotiations among an 11-member family board that had various interests to consider. The sale drew 17 offers in a competitive marketing process over 60 days.

Players

Anand Melwani
Landair Advisors
Anand Melwani
38 deals$153.6M volume(516) 658-1222
BROKER

Details

SOLD
IMAGE: Anand Melwani DATE: 12/23/2025 ADDRESS: 1308 Avenue J MARKET: Brooklyn ASSET TYPE: Retail SELLER: OakCrest Realty BROKER: Anand Melwani (@ArmYourself21) - Landair Advisors (@LandairAdvisors) SALE PRICE: $3,600,000 SF: 6,000 ~ PPSF: $600 NOTE FROM BROKER: This one hits close to home for Anand. More than 20 years ago, as a young broker just starting out, Anand made his first phone call on this property to one of the original owners. What followed were countless conversations—hours spent building trust, learning the family’s goals, and fostering a relationship that went far beyond a single transaction. Two decades later, when the family decided it was finally time to sell, Anand’s name naturally became part of the conversation. The impact of that first call had endured, and the trust built over years carried real weight across generations. The transaction itself was complex. An 11-member family board oversaw the sale, bringing multiple perspectives and priorities to the table. Anand ran a disciplined, competitive process, generating 17 offers within a 60-day marketing period. The result was an exceptional outcome: the property sold at a 5% cap rate with long-term tenants in place, providing strong in-place income. The asset also includes 18,000 square feet of unused air rights, offering meaningful future residential development upside. In the end, this deal was about more than execution—it was the culmination of patience, consistency, and relationships built over 20 years, all tracing back to a single phone call early in Anand’s career.

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