Crown Acquisitions snaps up Brooklyn, Staten Island retail

Tenants include Planet Fitness, Vitamin Shoppe

New York /
May.May 06, 2014 05:55 PM

Crown Acquisitions, the retail-focused firm that was a minority partner in the $250 million purchase of the Old Navy in Herald Square, is now setting its sights on the outer boroughs.

The firm recently spent close to $25 million for two retail spaces in Brooklyn, and another in Staten Island.

“We are constantly looking for good retail in the boroughs,” Isaac Chera, a principal at Crown Acquisitions, told Crain’s. “We have a strong appetite right now.”

Among the firm’s recent buys is a 20,000-square-foot retail space 2007 86th St. in Bay Ridge, Brooklyn, which the firm purchased for $15 million. While in the process of closing that deal, Crown Acquisitions also signed a Planet Fitness gym and Vitamin Shoppe to fill the vacant space.

Crown Acquisitions snatched up a former Con Edison billing and administrative facility at 441 Rockaway Parkway in South Brooklyn, which it leased to Planet Fitness as well. Another 8,000-square-foot acquisition at 603 Forest Ave. near St. George on Staten Island is a stone’s throw from where Rich Marin’s New York Wheel and BFC Partner’s Empire Outlets are being developed. [Crain’s] – Kerry Barger


Related Articles

arrow_forward_ios
Gap at 170 Broadway and Gap CEO Sonia Syngal (Photo via Google Maps; Syngal by MANDEL NGAN/AFP via Getty Images)

Gap landlord defaults on $70M FiDi loan

Gap landlord defaults on $70M FiDi loan
Gap Senior Director of Real Estate Jennifer Rondholz, Morgan Stanley Prime Property Fund head Scott Brown and 170 Broadway (Linkedin, Google Maps)

Lower Manhattan retail condo squeezed by lender as Gap refuses to pay rent

Lower Manhattan retail condo squeezed by lender as Gap refuses to pay rent
Caption: Stanley Chera (Photo by Patrick McMullan/Patrick McMullan via Getty Images)

Stanley Chera, titan of NYC retail, dies of coronavirus

Stanley Chera, titan of NYC retail, dies of coronavirus
Stanley Chera (Credit: Patrick McMullan/Patrick McMullan via Getty Images)

Stanley Chera in coma with Covid-19

Stanley Chera in coma with Covid-19
Stanley Chera, Event Chairman

Crown Acquisitions’ Stanley Chera hospitalized

Crown Acquisitions’ Stanley Chera hospitalized
Vornado sells 45% stake in prime Manhattan retail portfolio valued at $5.6B

Vornado sells 45% stake in prime Manhattan retail portfolio valued at $5.6B

Vornado sells 45% stake in prime Manhattan retail portfolio valued at $5.6B
Retail players defend market’s health but say major changes are coming

Retail players defend market’s health but say major changes are coming

Retail players defend market’s health but say major changes are coming
Crown Acquisitions secures $1B refi from three banks for Olympic Tower

Crown Acquisitions secures $1B refi from three banks for Olympic Tower

Crown Acquisitions secures $1B refi from three banks for Olympic Tower
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...