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New York & Tri-State  + Outer  + Finance  |  May 2, 2024
Emily Fu
By: Emily Fu

M&M Brokers $9M Sale of BK Bank of America Property 

Marcus & Millichap has closed the sale of a 6,250-square-foot Bank of America property in Brooklyn’s Clinton Hill neighborhood for $9.38 million. Scott Plasky and Alexander Arustamian at Marcus & Millichap facilitated the transaction on behalf of an undentified seller.  

Bank of America has been the anchor tenant at 449 Myrtle Ave since 2006. The bank has extended its lease through 2034, along with other tenant renewals. The property also offers nearly 29,000 square feet of buildable space, adding to its investment appeal. 

“Even in this market, with rising interest rates, there is still a ton of demand for credit-tenant backed retail properties with long-term leases,” said Plasky. 

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Inside The Story

Scott Plasky

About Emily Fu

Emily Fu is Content Director of Connect Commercial Real Estate, where she covers the east coast markets, including New York, Boston & New England, and DC & Mid-Atlantic markets. She produces daily news stories as well as longer-form content, ranging from Q&As to thought-leadership pieces. She also writes feature stories for Connect Money. With previous stints at Reuters, Seeking Alpha, and Commercial Observer, Emily has covered the finance side of the commercial real estate industry, technology, media, telecom (TMT), and fashion. She attended the Columbia Graduate School of Journalism and currently resides in Manhattan.
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