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333 Atlantic Avenue, Brookl...

The Gaston Family Acquires Mixed-Use Property In Brooklyn For $16.5M
SOLDMixed-use

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

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.

Players

Brendan Maddigan

JLL

Broker

$4.8B

vol

129 deals

Broker
The Corcoran Group
The Corcoran GroupBrokerage

Michael Tsoumpas

Seller

$115.2M

vol

5 deals

Seller

New York Mixed-use Market Snapshot

Boundary boundary · Mixed-use · Sale transactions

Loading comparables…

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