South Shore Commons, a popular shopping and dining plaza on Staten Island, has sold for the second time in four years.\u00a0<\/p>\n
Joyland Management<\/a> sold the 157,347-square-foot outdoor shopping center at 2965 Veterans Road West for $57 million, or $362 per square foot, to real estate investment trust Phillips Edison & Company<\/a>, which owns and manages grocery-anchored shopping centers across the U.S. <\/p>\n SEE ALSO: Apollo Provides $131M Construction Loan for Brookfield\u2019s California Logistics Center<\/a><\/p>\n A source with knowledge of the deal confirmed the transaction. Traded<\/a> first reported the deal. Spokespeople for the buyer and seller did not immediately respond to Commercial Observer\u2019s requests for comment.\u00a0<\/p>\n Joel Wertzberger, Judy Wolcowitz and Jack Wolcowitz of Joyland Management handled the sale in-house, while Newmark<\/a>\u2019s Daniel O\u2019Brien, Conor Lalor, Caroline Hodes, Loren Valla, Felton Hatcher and Adam Spies represented the seller and procured the buyer. Newmark did not immediately respond to a request for comment.\u00a0<\/p>\n Jack Wolcowitz bought South Shore Commons in 2022 for an undisclosed amount. Joyland refinanced the property in 2023 for $41.8 million<\/a>. The property changed hands before that in <\/a>2018 for $41 million.\u00a0<\/p>\n The tenant roster at South Shore Commons includes Filoncino Bakery Cafe, Dunkin, Pronto Pizza, Sola Salon Studios, Retro Fitness and Sally Beauty.\u00a0<\/p>\n