Kings Capital Acquires Mixed-Use Asset At 176 Atlantic Avenue, Brooklyn For $4.2M
176 Atlantic Ave Brooklyn, NY 11201, USA
$4,200,000
$681/SF
Building Size
6,160 SF
Asset Type
Mixed-use
Closing
May 19, 2023
AI
An asset located at 176 Atlantic Avenue, in New York City's Cobble Hill neighborhood, has been sold for $4,200,000. This mixed-use property encompasses a total space of 6,160 square feet, with a price per square foot of $682. It consists of three residential apartments and two retail stores. The sale marks the first transaction of this property in over 100 years.
Summary of transaction details:
- Property Type: Mixed-Use
- Transaction Amount: $4,200,000
- Address: 176 Atlantic Avenue
- Market: New York City
- Square Footage: 6,160
- Price Per Square Foot: $682
- Buyer: Kings Capital - Jeffrey Znaty & George Giannopoulos
- Seller: Ayoub Family
Kings Capital, represented by Jeffrey Znaty and George Giannopoulos, has completed this transaction as part of their ongoing strategy to pursue value-add opportunities in New York City, as well as garden-style apartment complexes in states such as Texas, Florida, Georgia, and the Carolinas. Interested parties are encouraged to reach out for potential collaboration through the provided email contact.
Players
New York 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
3.78%
Cash-on-Cash
-1.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93