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490 Fulton Mall

Updated Apr 17, 2026

Crown Acquisitions & Gindi Capital Acquire Retail Asset At 490 Fulton Street For $70 Million
SOLDRetail

Crown Acquisitions & Gindi Capital Acquire Retail Asset At 490 Fulton Street For $70 Million

490 Fulton Mall

$70,000,000

$312/SF

Building Size

224,000 SF

Asset Type

Retail

Closing

Apr 6, 2026

About this deal

AI

The property asset involved in the transaction is a retail space located at 490 Fulton Street in Brooklyn. The sale was completed for a total of $70,000,000, encompassing a total area of 113,000 square feet, which equates to a price per square foot of $619.

Summary of transaction details:

The transaction involved key participants including Crown Acquisitions and Gindi Capital as the buyers, while PIMCO acted as the seller. The brokerage team from CBRE included Doug Middleton, Rachel Humphrey, Roland Merchant Jr, and Daniel Kaplan, who represented the parties in the deal.

On the Map

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$70,000,000

$312/SF

Retail

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Players

Doug Middleton

CBRE

Broker

$7.1B

vol

40 deals

Broker
GC
Gindi CapitalBuyer
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Brooklyn Retail Market Snapshot

Boundary boundary · Retail · Sale transactions

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Deal FAQ

About $312 per square foot on a published $70M for 224,000 square feet (2026).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.23%

Cash-on-Cash

-0.06%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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