Klosed Properties is proud to announce the acquisition of the retail condominium at 2082 Frederick Douglass Blvd, New York, NY. The property is a 860 SF Retail Condo, located in West Harlem. The property is long-term leased to 87 Orange Street Bar & Restaurant.
Steven Kachanian, Principal said: “Even when most investors are running away from retail assets, we capitalize on opportunities as long as they are properly priced, well located, and have future upside potential. We finalized this acquisition within hours from our first inspection.”
Jacob Namdar, Senior Director of Acquisitions said: “Given the downturn of the retail market, we were still able to secure a long-term lease with a strong operator. This West Harlem location is only getting better.”
Adam Hajibai, Director of Acquisitions added: “We have been primarily focusing on acquisitions in Harlem, the Bronx, and Brooklyn. We are very excited for 2019, and looking to expand our portfolio heavily.”
This marks our 1st acquisition in 2019, while we are currently under hard contract to purchase 7 additional properties.
Please reach us to discuss new opportunities:
Jacob Namdar – JN@Klosedllc.com or 646.688.3666
Adam Hajibai – AH@Klosedllc.com or 516.858.0024
Please see our updated acquisition criteria below:
We are aggressively looking to acquire value-add properties in the boroughs & NY-Metro area. Our focus is on vacant/occupied retail condos, mixed use, and multifamily buildings (up to 200 units per asset), in NYC, Brooklyn, Bronx, & Queens.
NYC & Boroughs:
Mixed Use Buildings, Multifamily (up to 200 units), Retail Condominiums,
Retail Co-ops, Office Buildings, Strip Centers, Shopping Centers, NNN, & Residential Conversions. Looking for properties with upside and value-addpotential.
East Coast & Midwest:
Freestanding NNN & Grocery-Anchored Shopping Centers with value-add potential. Tenants desired: fast-food, drug stores, dollar stores, supermarkets, and all banks. Our core focus is on properties, where tenants are paying below-market rents and have short-term leases.
Current Budget is $1M – $100M