Crown Acquisitions sells retail in Bay Ridge to Anastasios Vasilakos for $14.8M

Anastasios Vasilakos through the entity Timothy Mcarthur, LLC paid $14.8 million to the Chera family’s Crown Acquisitions through the entity Ca 413 86th Street LLC for a retail building (K4) at 413 86th Street in Bay Ridge, Brooklyn.
The deal closed on June 25, 2021 and was recorded on July 9, 2021.
The property has 12,000 square feet of built space and 80 square feet of additional air rights for a total buildable of 12,099 square feet according to PincusCo analysis of city data. The sale price per built square foot is $1,231 and the price per buildable square foot is $1,221 per the PincusCo analysis.
The owner bought the property on 16-Aug-16, for $6 million.
The signatory for Crown Acquisitions was Brittany Bragg. The signatory for Anastasios Vasilakos was Anastasios Vasilakos.
Over the past five years, there have been 3 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 3 renovation/alteration projects (A2) applied for with a total estimated value of $1.2 million.
Within a 400-foot radius of 413 86th Street, PincusCo identified five commercial real estate items of interests occurred over the past 24 months.
Of those five items, four were for major renovation including a certificate of occupancy change. They were one permit applications with a total initial cost of $1.3 million, one permit with a total initial cost of $1,000,000 and two initial temporary certificate of occupancy issuances for projects that initially costed $1 million. The most recent of these four items was the permit on June 25, 2021 for a 9,600-square-foot retail M building with no residential units at 457 86th Street.
One of those five items was a sale which Century 21 Inc. bought the 12,000-square-foot, retail building (K3) on 460 86th Street for $9.5 million from Aldrich Stores on November 30, 2020.

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