Adjmi family pays $14M to Helene Family Holdings for retail in Bay Ridge

The Adjmi family’s ACHS Management through the entity CA 531 86th Street LLC paid Helene Family Holdings’s E&P Associates $14.1 million for 531 86th Street in Bay Ridge. The deal closed on November 13, 2020, and was recorded on November 25, 2020. The transaction consists of 1 parcel, including the tax class two-story or store and office (K2). The property is 37,412 square feet. The parcel(s) have total development potential of 54,245 square feet.
The average sale price per square foot is $260.

The signatory for ACHS is Marcus Adjmi. The contract date was November 13, 2020.
The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building on February 12, 2015.
Over the past five years, there have been 6 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. Of those there was one major renovation application including a certificate of occupancy change (A1) filed with a total estimated value of $346,983. There were 5 renovation/alteration projects (A2) applied for with a total estimated value of $809,235.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link
The signatory for the buyer or lender was Marcus Adjmi