Brooklyn’s 1623 Kings Highway Property Sells for $13.25M

NEW YORK—American Realty Capital New York Recovery REIT Inc. has closed the $13.25 million acquisition of the fee-simple interest in a commercial building located at 1623 Kings Highway in Brooklyn.

The property is currently 100 percent leased to Verizon Wireless, Tiger Schulmann's Mixed Martial Arts and Kickboxing and Interboro Consulting and is the 13th property to be added to American Realty Capital’s portfolio.

"We are pleased to acquire this well-located building in the Midwood neighborhood of Brooklyn," said Michael A. Happel, chief investment officer of American Realty Capital New York Recovery REIT.

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