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