Meridian’s Amit Doshi and Shallini Mehra recently closed on the $12.3-million sale of the Kings Plaza Retail Portfolio, including 2484-2488 Flatbush Ave., 4202-4204 Ave. U, 4206-4212 Ave. U, 4101-4103 Ave. U, 4105-4107 Ave. U and 4113-4123 Ave. U. Doshi and Mehra, in conjunction with J. A. Cohen Advisory, represented both buyer and seller.
“The portfolio benefits from stable cash flow from neighborhood service types of stores and its proximity to Kings Plaza, which drives significant pedestrian and car traffic,” said Doshi. “From the perspective of the purchaser, who are prolific builders also, the potential to build there in the future was an important factor.”
Added Mehra, “The purchaser is vested in the immediate neighborhood, so after months of marketing this became a quick execution.”
The portfolio is located at the intersection of Flatbush Avenue and Avenue U between the Kings Plaza Shopping Center, Brooklyn’s first indoor mall, and Marine Park.