An LLC controlled by the Brooklyn real estate investor Isaac Shalom has purchased a block-long stretch of retail buildings — home to a Key Foods supermarket, Papa John’s and Subway franchises and 11 “mom and pop” stores — along Brooklyn’s Nostrand Avenue for $18.5 million, a source told The Real Deal.
Emmes Asset Management, a Manhattan-based real estate investment firm, sold the Flatbush portfolio because it “got a good number,” the source said. The firm acquired the properties in 1997 for an undisclosed sum through an entity called NRP LLC, according to city property records. A representative for Emmes did not immediately return a call seeking comment. [more]