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
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