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# Stop & Shop Property Sells For $28.5M In Record-Breaking Deal
- URL: https://bklyner.com/stop-shop-property-sells-for-28-5m-in-record-breaking-deal-sheepshead-bay/
- Published: 2011-12-16T17:44:32.000Z
- Updated: 2011-12-16T18:35:31.000Z
- Author: Ned Berke
- Tags: feldco development, marshalls, sands brook, station plaza, #API-Imported

![](/content/images/wp-content/uploads/2011/12/stopshop.jpg "stopshop")

Source: Feldco Development

The 88,000-square-foot lot that houses Super Stop & Shop (1710 Avenue Y) has sold for $28.5 million, netting the largest price tag for real estate in the history of Sheepshead Bay.

The property was sold by Connecticut-based real estate firm Feldco Development to a Florida-based LLC named Sands Brook, according to a [report in The Real Deal](http://ny.therealdeal.com/newyork/articles/feldco-development-sells-stop-and-shop-at-1710-avenue-y-to-sands-brook?ref=bklyner.com).

The property includes the 54,000-square-foot, one story building with an outdoor parking lot.

Those worrying this might mean the end of another local supermarket following the [demise of Pathmark on Nostrand Avenue](/pathmark-to-close-100-workers-face-job-loss/) need not worry, as Stop & Shop renewed their lease in 2005, securing its presence until 2030\. The supermarket also holds ten 5-year renewal options, extending its presence through 2080\. Stop & Shop opened in 1992.

The sale shatters all previous real estate records for the area, including the 23-year reigning record-holder: the Atlantic Towers Apartment Corp. on Avenue Z and East 13th Street, which sold in 1988 for $25 million. It also trumped the latest large-ticket sales in Sheepshead Bay: the 2008 deals for [Loehmann’s Seaport Plaza ($24 million)](/real-estate-record-broken-loehmann-s-sea/) and the proposed [Station Plaza site](/22-story-tower-w-condos-considered-for-s/) on [Sheepshead Bay Road ($20 million)](http://ny.therealdeal.com/articles/sheepshead-bay-property-sells-for-20m?ref=bklyner.com).

On a side note, the [future Marshalls location across the street](/sheepshead-bay-marshalls-will-have-parking/) was touted as part of the marketing materials for the property, showing the growth of commercial developments in the area. Station Plaza – which appears to have halted development before it even began – was not mentioned.

**Clarification:** When the supermarket opened in 1992, it was not yet named Stop & Shop. I believe it opened as Finest, which then became Edwards, and finally Stop & Shop. However, for all intents and purposes of identifying the tenant, all three are the same and the name changes were merely casualties of chains swallowing up chains – not different entities.