The Gaston Family Acquires Mixed-Use Property In Brooklyn For $16.5M
333 Atlantic Avenue, Brooklyn, NY, USA
$16,500,000
$724/SF
Building Size
22,786 SF
Asset Type
Mixed-use
Closing
Aug 4, 2021
About this deal
AI
The mixed-use property located at 333 Atlantic Avenue in Brooklyn has been sold in a recent transaction. The property is spread across 22,786 square feet and was sold for a price of $16,500,000, resulting in a price per square foot of $724.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $16,500,000
- Date: 08/05/2021
- Address: 333 Atlantic Avenue
- Market: Brooklyn
- Buyer: The Gaston Family
- Seller: Michael Tsoumpas
The deal was facilitated by Brendan Maddigan, Ethan Stanton, Stephen Palmese, Winfield Clifford, and Michael Mazzara from JLL. They represented their respective parties in the transaction.
On the Map
$16,500,000
$724/SF
Mixed-use
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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
0.96%
Cash-on-Cash
-0.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93