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Myrtle Avenue Property Sells for $9.3 Million, Includes Former Happy Days Building

Happy Days operated at 56-40/56-42 Myrtle Ave. before it closed (Google)

Nov. 12, 2019 By Christian Murray

A large piece of Myrtle Avenue real estate owned by the operators of the now-shuttered Happy Days Children’s clothing store has sold for $9.3 million.

The property, which incorporates the site where Happy Days once operated, consists of three contiguous parcels at 56-40/56-42 Myrtle Ave. and 17-11 Hancock St. The property was owned by the Mizrahi family, who operated Happy Days for over 40 years.

The buildings offers 40 feet of retail frontage on Myrtle Avenue, the main retail thoroughfare, and more than 45,000 buildable square feet.

The three contiguous parcels (City Planning)

The property was bought by Leopald Kaufman and the deal was brokered by Ariel Property Advisors.

The deal closed on Oct. 29, 2019, and was recorded on Nov. 6, 2019.

The brokers said that the property was in demand and sold quickly.

“Bolstered by the benefits of a strong retail location, proximity to major transportation hubs, and future redevelopment potential spurred an active bidding process for the properties, which allowed us to secure the buyer within just 30 days of marketing the asset,” said Sean R Kelly, an agent for Ariel.

The Myrtle Avenue corridor boasts tenants such as AT&T, Chase, Dunkin Donuts, Rite Aid, McDonalds and KFC.

17-11 Hancock St. (Ariel Property Advisors)

 

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