Successful Sale of 1100 Kings Highway in Midwood, Brooklyn
Bob Knakal and his team successfully facilitated the sale of 1100 Kings Highway, a prime retail development site in Midwood, Brooklyn. The transaction, which closed at $30,500,000, marked a significant achievement in a highly competitive market.
Strategic outreach and deep market expertise played a crucial role in securing favorable terms for the seller, American Realty Capital. The buyer, Meir Babaev of AB Capstone, recognized the property’s potential as a high-visibility retail site with strong development opportunities.
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Sale Details
Located at the intersection of Kings Highway and Coney Island Avenue, 1100 Kings Highway is a well-positioned retail asset that attracted strong investor interest. The site features a single-story retail building with three structures totaling 81,413 square feet.
Bob Knakal’s proactive market approach helped maximize the property’s value, ensuring a seamless transaction.
- Sale Price: $30,500,000
- Seller Type: REIT, Institutional
- Property Type: Development, Retail
- Sale Date: May 1, 2018
- Lot Size: 19,275 SF
- Building Size: 81,413 SF
- Stories: 1
- Price Per SF: $374.63
Property Details
1100 Kings Highway presented a rare opportunity for retail development in Midwood, a thriving commercial hub. The site’s strategic location, ample frontage, and high foot traffic made it an attractive investment.
- Full Address: 1100 Kings Highway, Brooklyn, NY
- Neighborhood: Midwood, Sheepshead Bay
- Building Count: 3
- Zoning: Retail Development
- Development Potential: Large retail footprint with potential for redevelopment
Strategic Market Approach
Bob Knakal and his team implemented a targeted marketing strategy to position the property as a premier retail development opportunity. By leveraging their extensive network, they engaged potential buyers who recognized the site's long-term value.
Their approach included:
- Direct outreach to active retail investors and developers
- Highlighting the site’s strong retail fundamentals and high foot traffic
- Showcasing its prime location at a major Brooklyn intersection
This strategic positioning resulted in multiple competitive offers, ultimately securing the best deal for the seller.
Neighborhood Overview
Midwood and the surrounding Sheepshead Bay area have long been sought-after locations for retail and mixed-use development.
- High Foot Traffic: Bustling commercial corridor with strong retail demand
- Prime Location: Near major intersections and public transit hubs
- Retail Growth: Increasing demand for modern retail spaces in Brooklyn
- Proximity to Sheepshead Bay: Close to established shopping districts and residential communities
Conclusion
The sale of 1100 Kings Highway highlights Bob Knakal’s ability to navigate complex transactions and achieve optimal results for clients. His strategic approach, deep market knowledge, and consistent communication helped maximize value and secure the best possible terms.
Testimonial
“My relationship with Bob Knakal and his team goes back many years, and we knew they were the right brokers for the job. They did everything they said they would do and produced a result we were very pleased with. We highly recommend Bob and his team to other sellers in New York City.”
– Patrick O'Malley, American Realty Capital
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