2217 Caton Ave, commercial condo, sells for $14m — Brooklynian

2217 Caton Ave, commercial condo, sells for $14m


"Jonathan Joels’ Portman Property Group purchased a commercial unit at the BeCa Condos in Flatbush for $14.2 million. The 8,700-square foot commercial condo and garage is part of the eight-story building at 2217 Caton Avenue. Gibralt Capital Corporation is the seller. - "

The ground floor is currently a day care center. The unit has a ground floor entrance on Caton and a loading dock and second entrance on Bedford, next door to a large lot, recently razed for another condo building. 
I'm not well-versed in these types of things. Can anyone speculate on what a price like this means for the future plans of the new owners? Does this indicate a big rent increase, or a high profile tenant, in place or hoped for?


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