Did Downtown Macy’s site sell for bargain-bin price?

December 12, 2024 Brooklyn Eagle Staff

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DOWNTOWN BROOKLYN — SOURCES SAID MACY’S on the Fulton Mall in Downtown Brooklyn sold for just over $50 a square foot — while other retail space in the busy shopping area has been going for around $250 a square foot, according to the New York Post. Unconfirmed sources told the Post that investors paid Macy’s $23 million for the 440,000-square-foot property, with possible uses including “family-friendly attractions” such as Netflix, Universal and Lego. The Post says Macy’s declined to comment on the “fire sale” price.

The Macy’s building, once the well-known Abraham & Straus department store, was sold to Al Laboz’s United American Land, the Brooklyn Eagle reported on Dec. 9.

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