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Aloki Batra & Kabir Mulchandani Acquire Avant Gardner Venues In Brooklyn For $110M
SOLD
$110,000,000
New York
See Similar DealsCommercial
Sold 01/01/2026
SOLD
Aloki Batra & Kabir Mulchandani Acquire Avant Gardner Venues In Brooklyn For $110M
140 Stewart Avenue, Brooklyn, Ny 11237, Usa
See Similar DealsCommercial
Sold 01/01/2026
Summary
NEW YORK
Asset Type:Commercial
Transaction Type:Sale
The property asset involved in the transaction is a commercial venue located at 140 Stewart Avenue in Brooklyn. It was sold for a total amount of $110,000,000. This asset includes notable spaces such as the Brooklyn Mirage, which were part of the Avant Gardner venues.
Summary of transaction details:
- Property Type: Commercial
- Transaction Amount: $110,000,000
- Buyer: Aloki Batra & Kabir Mulchandani - FIVE Holdings
- Seller: Avant Gardner
- Date of Transaction: 01/01/2026
The transaction was conducted following Avant Gardner’s bankruptcy in 2025. FIVE Holdings is the Dubai-backed parent company of Pacha, showing a strategic acquisition in the market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$5,866,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$390,806.76
Cash-on-Cash Return-1.27%
Monthly Debt Service$521,456.12
Annual Debt Service$6,257,473.43
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