Marcus & Millichap Arranges $55 Million Sale of 19-Property Retail Portfolio in New York City

by Camren Skelton

New York — Marcus & Millichap has arranged the $55 million sale of a 19-property retail portfolio located in the Bronx, Brooklyn and Yonkers in New York City.

Mark Gjonbalaj of Marcus & Millichap arranged the transaction on behalf of the seller, a New York City family that owned the assets for 30 years, and the buyer, Chestnut Holdings. The portfolio includes 18 retail properties and one vacant lot, comprising 106,708 square feet of rentable retail space and 493,679 buildable square feet. The properties in Brooklyn are 191 York St., 416 Crescent St., 578-584 Rockaway Ave., and 104-15 Glenwood Road. In the Bronx, the sold portfolio includes 300-312 E. 194th St., 2609 Marion Ave., 2172 Crotona Ave., 1671-1687 Macombs Road, 239-245 E. Tremont Ave., 408-414 E. Tremont Ave., 132-140 Featherbed Lane, 7 E. 172nd St., 1434 Jerome Ave., 12-28 E. 167th St., 1001-1005 Ogden Ave., 1401-1413 Bronx River Ave., and 1544 E. 174th St. The Yonkers properties are 268-274 Riverdale Ave. and 417-433 Riverdale Ave.

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