September 26, 2025

Yale Properties USA Makes First Acquisition in Bushwick

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News Summary

Yale Properties USA has acquired a property at 321 Starr St. in Bushwick for $17.5 million, marking its entry into the New York real estate market. The purchase retains existing tenants, including a Michelin-endorsed restaurant and a popular climbing gym, as the firm aims to complement current businesses. Principal Harrison Mashaal expresses confidence in the Bushwick retail sector and plans further investments in the area, emphasizing a strategic vision for growth amid evolving retail trends.

Brooklyn, New York – Yale Properties USA, a real estate firm based in Midtown, has completed its first acquisition in the New York market by purchasing the property located at 321 Starr St. in Bushwick for $17.5 million. The acquisition was made from Arel Capital, which is managed by Richard Leibovitch, confirming the ongoing investment interest in one of Brooklyn’s emerging neighborhoods.

The acquisition of 321 Starr St. is notable not just for its price but also for the tenants it retains. Yale Properties has stated that it does not plan to replace any existing tenants, focusing instead on bringing in businesses that can complement those already occupying the building. The property is home to the Michelin-endorsed Thai restaurant Tong, praised in the Michelin Guide as “a welcome hangout” for its distinctive spicy cuisine. Additionally, the location boasts a branch of MetroRock, a rock-climbing gym with a variety of climbing walls, fitness and yoga rooms, and a gear shop.

Principal of Yale Properties, Harrison Mashaal, has indicated confidence in the Bushwick real estate market, particularly within the retail sector. The company aims to acquire additional assets in the area, backing its belief in the potential growth of this part of Brooklyn. The company has established a strategic goal to invest and develop in locations with up-and-coming retail opportunities.

This property has an interesting transaction history. It was acquired in 2015 for $9 million by a firm associated with Cayuga Capital Management before transitioning to Arel Capital. The current site comprises approximately 27,000 square feet and is one story high, providing a substantial space for both existing and future tenants.

Furthermore, despite Harrison Mashaal’s family background, which includes founding Senvest—a Canadian holding company—he clarified that Yale Properties operates independently. This is an important distinction, especially as the firm emphasizes its own strategic vision for growth in particular real estate sectors.

The continuous investment in Bushwick illustrates the neighborhood’s rising influence in New York City’s real estate landscape. As retail trends evolve and demands change, Yale Properties’ commitment to maintaining existing businesses while waiting for future leasing opportunities reflects a calculated approach to property management.

In summary, Yale Properties USA’s acquisition of 321 Starr St. in Bushwick is a significant development for the firm and the neighborhood, further signifying Bushwick’s position as a desirable location for innovative businesses and retail growth. The property’s prominent tenants, including the Michelin-starred restaurant and a popular climbing gym, reflect the diverse and vibrant character of Bushwick, positioning it as a focal point for future investments.