Lloyd Goldman’s BLDG Management Nabs Brooklyn Retail Building for $17M

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Lloyd Goldman’s BLDG Management picked up a Bath Beach, Brooklyn, retail building for $17.25 million, brokers on the deal announced.

BLDG bought the 7,806-square-foot retail property at 2076-2084 86th Street from Jeff Sutton’s Wharton Properties, Crain’s New York Business first reported.

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Sutton picked up the two-story building between Bay 26th Street and 21st Avenue for $10 million from First Roslyn Realty in 2016, property records show. It was recently renovated and is currently leased to Bank of America and Chipotle, according to sales brokers Cushman & Wakefield.

C&W’s Jordan Sutton, Andrea Efthymiou, Robert Shapiro and Christopher Sheldon represented the seller in the deal.

“This was an exceptional opportunity to acquire a fully redeveloped, well-performing retail asset in a high-demand area of Brooklyn,” Efthymiou said in a statement. “The asset is located in the borough’s core business district of 86th Street and 21st Avenue and is anchored by two high-quality and long-term tenants.”

A representative from BLDG declined to comment and Sutton did not immediately respond to a request for comment.

The building marks the second recent sale for Sutton’s Wharton in the borough after it unloaded 1123 Avenue J in Midwood for $10.6 million in April, Crain’s New York reported.

Sutton is also working on turning a two-story retail building at 25 West 34th Street in Midtown into a 363-room hotel, during a time when the coronavirus pandemic has damaged both the hospitality and retail industries.