Empire State Realty Trust Acquires Retail Property At 41-55 North 6th Street For $46M
North 6th Street
$46,000,000
$2,653/SF
Building Size
17,334 SF
Asset Type
Retail
Closing
Mar 26, 2026
About this deal
AI
The property involved in this transaction is a retail asset located at 41-55 North 6th Street in Brooklyn. The buyer, Empire State Realty Trust, acquired the property from the seller, Joyland Management. The sale price was $46,000,000, and the asset encompasses 22,000 square feet, equating to a price per square foot of $2,091.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $46,000,000
- Address: 41-55 North 6th Street
- Market: Brooklyn
- Square Footage: 22,000
- Price Per Square Foot: $2,091
- Buyer: Empire State Realty Trust
- Seller: Joyland Management
- Brokers: Ethan Stanton, Brendan Maddigan & Michael Mazzara - JLL
The deal was facilitated by Ethan Stanton, Brendan Maddigan, and Michael Mazzara, who represented the transaction through their agency, JLL. Their involvement highlights the expertise and brokerage capabilities brought to this significant retail property sale.
On the Map
$46,000,000
$2,653/SF
Retail
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Players
Brooklyn Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.34%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93