Press Releases
Marcus & Millichap Facilitates $17.5M Sale of Experiential Retail Property in Brooklyn
October 14, 2025
NEW YORK, Oct. 14, 2025 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the sale of 321 Starr Street, a fully leased, 10-unit retail property in the Bushwick neighborhood of Brooklyn, for $17.5 million.
“This deal really highlights the evolution of what investors value in the retail sector,” said Shaun Riney of the NYM Group of Marcus & Millichap in Manhattan. “While traditional lenders and buyers still tend to shy away from experiential retail concepts, these are exactly the types of businesses driving foot traffic and consumer engagement today. The buyer recognized that, and it allowed them to enter the New York market at an attractive basis.”
Riney, along with Marcus & Millichap’s Michael Salvatico, Scott Plasky and Alexander Arustamanian, represented the seller and procured the buyer, a Canadian high-net-worth family making their first New York City acquisition.
Located at 321–341 Starr Street, the 26,624-square-foot property sits at the corner of Starr Street and Cypress Avenue. The asset features 235 feet of retail frontage and was completely renovated in 2017. It includes 7,000 square feet of rooftop and outdoor space on the second floor and 321 square feet of ground-floor outdoor seating. Tenants include MetroRock, 48 Cypress, and New York Film Lab, along with a diverse mix of food, beverage, and specialty retailers.
“This deal really highlights the evolution of what investors value in the retail sector,” said Shaun Riney of the NYM Group of Marcus & Millichap in Manhattan. “While traditional lenders and buyers still tend to shy away from experiential retail concepts, these are exactly the types of businesses driving foot traffic and consumer engagement today. The buyer recognized that, and it allowed them to enter the New York market at an attractive basis.”
Riney, along with Marcus & Millichap’s Michael Salvatico, Scott Plasky and Alexander Arustamanian, represented the seller and procured the buyer, a Canadian high-net-worth family making their first New York City acquisition.
Located at 321–341 Starr Street, the 26,624-square-foot property sits at the corner of Starr Street and Cypress Avenue. The asset features 235 feet of retail frontage and was completely renovated in 2017. It includes 7,000 square feet of rooftop and outdoor space on the second floor and 321 square feet of ground-floor outdoor seating. Tenants include MetroRock, 48 Cypress, and New York Film Lab, along with a diverse mix of food, beverage, and specialty retailers.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2024, the company had 1,712 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 7,836 transactions in 2024, with a sales volume of approximately $49.6 billion. For additional information, please visit www.MarcusMillichap.com.
