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148 Atlantic Avenue

Witnick Properties Sells Mixed-Use Property In Cobble Hill For $3.4M
SOLDMixed-use

Witnick Properties Sells Mixed-Use Property In Cobble Hill For $3.4M

148 Atlantic Avenue

$3,400,000

$735/SF

Building Size

4,620 SF

Asset Type

Mixed-use

Closing

Oct 30, 2023

AI

A mixed-use property located at 148 Atlantic Avenue in Cobble Hill, Brooklyn has been sold. The property spans 4,620 square feet and was sold for a total price of $3,400,000, resulting in a price per square foot of $736.

Summary of transaction details:

  • Property Type: Mixed-use
  • Transaction Amount: $3,400,000
  • Square Footage: 4,620
  • Address: 148 Atlantic Avenue, Cobble Hill
  • Market: Cobble Hill

The seller of the property was Isaac Abraham from Witnick Properties. The transaction was facilitated by Marcel Fridman from Barcel Group, who represented the seller in the deal.

Players

Marcel Fridman

Barcel Group

Broker

$451.5M

vol

141 deals

Broker

Brooklyn Mixed-use Market Snapshot

Boundary boundary · Mixed-use · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

4.67%

Cash-on-Cash

-1.33%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93