Marcus & Millichap Real Estate Investment Services announced the sale of Regions Bank, a 3,532 s/f net-leased property at 2200 Aloma Avenue, Winter Park, FL, for $2,300,000. Glen Kunofsky and John Glass represented the seller, an investment and asset management company. The buyer, a private investor, was secured and represented by Peter Von Der Ahe, Scott Edelstein, and Judson Kauffman. Kirk Felici, Regional Manager of the firm’s Miami office, was the broker. There are 10.25 years remaining on a 20-year absolute triple-net lease with no landlord responsibilities.
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Massey Knakal announced the following sales:
•A mixed-use building at 1689 Putnam Avenue in Ridgewood, Queens, sold for $1,025,000. The three-story, all brick building contains 4,400 s/f. The ground floor is leased to a beauty supply store and there are two three-bedroom apartments above on one year leases. The sale price equates to approximately $233 psf. Thomas A. Donovan handled this transaction with Stephen Pruess.
• A mixed-use building at 1645 East 19th Street in Brooklyn’s Sheepshead Bay sold for $760,000. This two-story, two-family building contains 2,500 s/f. The first floor is a dental office. The second floor apartment has three bedrooms. 13,125 buildable square feet add development potential. Brian Hanson handled this transaction with Bob Knakal.
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Rosewood Realty Group announced a $1.05 million sale of 457 Decatur Street, a four story walk-up apartment building in Bedford Stuyvesant, Brooklyn. The 9,632 s/f building was built in 1910. Rosewood’s Michael Guttman represented the buyer, 457 Decatur LLC and the seller, a private investor.
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CP Commercial Properties announced that Joseph Porretta and Deborah Classi-Lewis negotiated the sale of the Melville McDonald’s at 729 Walt Whitman Road for $3,025,000, a 4.37% cap rate. The lease includes a corporate guarantee, with built-in increases. The building is situated on a 1.18 acres lot, offering future upside in the form of development potential. The seller was Peter Bannon, whose family has owned the property for over 50 years and operated a restaurant there. The purchaser was a family-owned real estate investment company in Brooklyn. Classi-Lewis represented the seller and Porretta represented the purchaser.
