Manhattan Beach Strip Mall Sold For $6.25 Million

The Manhattan Beach strip mall across the street from Kingsborough Community College was sold earlier this month for $6.25 million.

Previous owners Salm Properties LLC sold the mall, located at Oxford Street and Oriental Boulevard, for more than twice what they paid for it in 2012 ($3.1 million).

The property changed hands on October 9, according to the real estate broker Arsen Atbashyan, who represented the buyer. The new owners are Beach Plaza Realty, a corporation focused primarily on investing in shopping centers, according to Atbashyan.

“Basically, they bought it for investment purposes,” he said. “There won’t be any changes. There are leases in place. They can’t really do much with it except for what it is.”