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	<title>The Commercial Observer &#187; Bay Ridge Retail Portfolio Hits Market </title>
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		<title>The Commercial Observer &#187; Bay Ridge Retail Portfolio Hits Market </title>
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		<title>Bay Ridge Retail Portfolio Hits Market</title>

		<comments>http://commercialobserver.com/2012/07/bay-ridge-retail-portfolio-hits-market/#comments</comments>
		<pubDate>Tue, 03 Jul 2012 08:30:32 -0400</pubDate>
					<link>http://commercialobserver.com/2012/07/bay-ridge-retail-portfolio-hits-market/</link>
			<dc:creator>Daniel Edward Rosen</dc:creator>
				
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		<description><![CDATA[<p>Four Brooklyn retail properties on 86th Street will be hitting the market as a single portfolio and are expected to fetch upwards of <strong>$55 million</strong>.</p>
<p>The properties, which are located at <strong>420 86th Street</strong>, <strong>502-512 86th Street</strong>, <strong>514 86th Street</strong> and <strong>526-528 86th Street</strong>, all in Bay Ridge, are currently owned by The Gindi family. The sale of this portfolio is being handled by <strong>Massey Knakal Realty Services</strong>.</p>
<p><div id="attachment_235221" class="wp-caption alignleft" style="width: 232px"><a href="http://www.commercialobserver.com/2012/07/bay-ridge-retail-portfolio-hits-market/634741510548808573_slideshow/" rel="attachment wp-att-235221"><img class="size-medium wp-image-235221" title="634741510548808573_SlideShow" src="http://www.commercialobserver.com/files/2012/07/634741510548808573_SlideShow-222x300.jpg" alt="" width="222" height="300" /></a><p class="wp-caption-text">514 86th Street</p></div></p>
<p>"I can't recall anything this sizable in Brooklyn coming to market," said <strong>Bob Knakal</strong>, chairman of Massey Knakal.<!--more--></p>
<p>420 86th Street is a two-story, 3,500 square-foot building that's situated near a Century 21 Department Store, Massey Knakal says in a press release.</p>
<p>502-512 86th Street is a three-story, 39,000 square feet that is currently being leased out by Citi Group and TJ Maxx. The building offers 125-feet of frontage on 5th Avenue in Bay Ridge, and can offer 100 feet of frontage on the 86th Street side of the property.</p>
<p>514 86th Street is a four-story, 6,300 square-foot property that consists of four units. Two of them are residential, the other two are commercial. A ground floor commercial space is currently being leased to Starbucks. That lease is not set to expire until February 2017.</p>
<p>The last property in the portfolio, 526-528 86th Street, is a four-story mixed-use building sized at 9,600 square feet. Mothers Work Inc. is currently leasing the first floor of the property until May 2014.</p>
<p>"We suspect that because of their close proximity to one another, this portolio will have a single buyer," said Mr. Knakal.</p>
<p><em><a href="mailto:drosen@observer.com">drosen@observer.com</a></em></p>
]]></description>
		<content:encoded><![CDATA[<p>Four Brooklyn retail properties on 86th Street will be hitting the market as a single portfolio and are expected to fetch upwards of <strong>$55 million</strong>.</p>
<p>The properties, which are located at <strong>420 86th Street</strong>, <strong>502-512 86th Street</strong>, <strong>514 86th Street</strong> and <strong>526-528 86th Street</strong>, all in Bay Ridge, are currently owned by The Gindi family. The sale of this portfolio is being handled by <strong>Massey Knakal Realty Services</strong>.</p>
<p><div id="attachment_235221" class="wp-caption alignleft" style="width: 232px"><a href="http://www.commercialobserver.com/2012/07/bay-ridge-retail-portfolio-hits-market/634741510548808573_slideshow/" rel="attachment wp-att-235221"><img class="size-medium wp-image-235221" title="634741510548808573_SlideShow" src="http://www.commercialobserver.com/files/2012/07/634741510548808573_SlideShow-222x300.jpg" alt="" width="222" height="300" /></a><p class="wp-caption-text">514 86th Street</p></div></p>
<p>"I can't recall anything this sizable in Brooklyn coming to market," said <strong>Bob Knakal</strong>, chairman of Massey Knakal.<!--more--></p>
<p>420 86th Street is a two-story, 3,500 square-foot building that's situated near a Century 21 Department Store, Massey Knakal says in a press release.</p>
<p>502-512 86th Street is a three-story, 39,000 square feet that is currently being leased out by Citi Group and TJ Maxx. The building offers 125-feet of frontage on 5th Avenue in Bay Ridge, and can offer 100 feet of frontage on the 86th Street side of the property.</p>
<p>514 86th Street is a four-story, 6,300 square-foot property that consists of four units. Two of them are residential, the other two are commercial. A ground floor commercial space is currently being leased to Starbucks. That lease is not set to expire until February 2017.</p>
<p>The last property in the portfolio, 526-528 86th Street, is a four-story mixed-use building sized at 9,600 square feet. Mothers Work Inc. is currently leasing the first floor of the property until May 2014.</p>
<p>"We suspect that because of their close proximity to one another, this portolio will have a single buyer," said Mr. Knakal.</p>
<p><em><a href="mailto:drosen@observer.com">drosen@observer.com</a></em></p>
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