141 Court St, Brooklyn, NY
March 22, 2018
Achieving top results for an Owner in Distress in Brooklyn’s Top Retail Location Court Street meets Atlantic Ave on one of the busiest intersections in Brooklyn. It’s a hub of activity where commerce, high-end residential and busy retail converge. Trader Joes, Rite Aid and Santander Bank operate some of their top locations on this corner. 141 Court Street is a 2,800 square foot mixed use property located one building off of the corner. The property’s owner had acquired the property in the mid-1990’s, long before the neighborhood became what it is today. In recent years, the owner encountered financial challenges that made her unable to make loan payments, and in late 2016 she faced a mortgage default and a potential foreclosure auction. With an attractive property and a very visible legal situation, the owner was swamped with buyers. All of them came with the all-too-familiar low-ball pricing and credibility issues. The owner desperately needed to find an honest team who could quickly create a competitive marketplace to showcase this valuable as-set and negotiate a competitive sale. Above all, the owner needed to move swiftly to avoid losing everything in a court auction.