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Peggy Ma Buys Retail Property From Joe Sutton For $9.38M In Clinton Hill

Property Image
SOLD
$9,382,000

New York

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Retail6,250 SF
Sold 04/26/2024
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Property Image
SOLD

Peggy Ma Buys Retail Property From Joe Sutton For $9.38M In Clinton Hill

449 Myrtle Avenue

See Similar Deals
Retail6,250 SF
Sold 04/26/2024
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Summary

NEW YORK
Asset Type:Retail
Price Per Square Foot:$1,501
Total Square Footage:6,250 SF
Transaction Type:Sale

A 6,250 square foot single-story retail building located at 449 Myrtle Avenue in Clinton Hill, Brooklyn was recently sold for $9,382,000. The asset type is designated as Retail, and the property boasts a price per square foot of $1,501. The transaction involved a 10-year NN lease with Bank of America in place and offers 29,000 buildable square feet.

Summary of transaction details:

The deal's key individuals and companies include Peggy Ma as the buyer and Joe Sutton representing Wharton Properties as the seller. Brokers involved in the transaction were Scott Plasky and Alexander Arustamian from Marcus & Millichap and Oliver Han from Compass. Scott Plasky, Alexander Arustamian, and Oliver Han facilitated the sale of this notable retail property.

Players

Scott Plasky
78 deals$406.4M volume(212) 430-5229
BROKER

Alexander (Alex) Arustamian
Marcus & Millichap
24 deals$116M volume(212) 430-5276
BROKER

Oliver Han
Compass
1 deal$9.4M volume(914) 439-6040
BROKER

Details

SOLD
IMAGE: Scott Plasky, Alexander Arustamian & Oliver Han DATE: 04/26/2024 ADDRESS: 449 Myrtle Avenue MARKET: Clinton Hill, Brooklyn ASSET TYPE: Retail BUYER: Peggy Ma SELLER: Joe Sutton - Wharton Properties BROKERS: Scott Plasky (@PlaskyRetailgroup) & Alexander Arustamian - Marcus & Millichap (@MarcusMillichapinc); Oliver Han (@OliverHanNYC) - Compass (@Compass) SALE PRICE: $9,382,000 SF: 6,250 ~ PPSF: $1,501 NOTE FROM BROKER: This is a 6,250 SF single-story retail building which has a 10-year NN lease in place with Bank of America, and 29K buildable SF. Reach out for similar net-leased/multi-tenant NYC retail deals.

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Net Operating Income (NOI)

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