Sterling Town Equities Acquires Commercial Building On Atlantic Avenue, Brooklyn For $28M

A commercial building located at 542 Atlantic Avenue in Brooklyn, New York was recently sold in a closed transaction. The property, which spans 84,918 square feet, was sold for a price of $28,000,000, resulting in a price per square foot of $329. The sellers of the building were James Gerosavas, James Pappas, and Gus Papadimitrou. The buyer of the property was Sterling Town Equities. The sale was facilitated by Stephen Palmese and The Palmese Group, who represented the buyer in the transaction.

Summary of transaction details

• Property Type: Commercial building
• Transaction Amount: $28,000,000
• Address: 542 Atlantic Avenue, Brooklyn, New York
• Market: Brooklyn
• BSF: 84,918
• PPBSF: $329
• Sellers: James Gerosavas, James Pappas, and Gus Papadimitrou
• Buyer: Sterling Town Equities
• Broker: Stephen Palmese & The Palmese Group

The sale of the commercial building at 542 Atlantic Avenue in Brooklyn was successfully completed with the assistance of Stephen Palmese & The Palmese Group, who acted as the buyer's representatives in the deal.