Harrison Mashaal & Stephen Mashaal Of Yale Properties USA Acquire Retail Asset In Brooklyn For $17.5M

The property asset involved in the transaction is located at 321 Starr Street in Brooklyn. This retail asset was sold for $17,500,000 and comprises 26,025 square feet, leading to a price per square foot of $672.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $17,500,000
• Buyer: Harrison Mashaal & Stephen Mashaal – Yale Properties USA
• Seller: Arel Capital
• Brokers: Shaun Riney, Michael (Mike) Salvatico, Scott Plasky & Alexander (Alex) Arustamian - Marcus & Millichap
• Loan Assumed: $12.5M CMBS loan at 7.46% IO for 5 years

Shaun Riney, Michael Salvatico, Scott Plasky, and Alexander Arustamian represented the transaction as brokers from Marcus & Millichap. The buyer is interested in understanding the property’s cap rate and setup. For further inquiries regarding similar on-market inventory, contact details are provided for reaching out.