Developer’s Realty Corporation completes $14.1M sale of 531 86th St. in Brooklyn

NEW YORK, December 2, 2020 — JLL Capital Markets has completed the sale of 531 86^th St. in Bay Ridge, Brooklyn, on behalf of Developer’s Realty Corporation. The two-story, 37,412-square-foot retail property was acquired by A&H Acquisitions Corp for $14.1 million.

531 86^th Street is located in the heart of a dynamic retail destination directly off the Gowanus Expressway in close proximity to Bay Ridge’s most popular retailers, restaurants, shopping and fitness centers. The property sits on the north side of 86^th between 5^th Avenue and Fort Hamilton Parkway with a municipal parking garage nearby for customer convenience.

The JLL team representing the seller included Vice Chairman Stephen Palmese, Managing Director Ethan Stanton, Michael Mazzara, Winfield Clifford and Brendan Maddigan

“86^th Street in Bay Ridge has a long history as a powerful retail destination, and this property benefits from its central location, its flexibility and from long-standing existing retail traffic patterns,” said Palmese.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.

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