The Cofinance Group Acquires Mixed-Use Property In Boerum Hill For $11.9M
348 Atlantic Ave, Boerum Hill, Brooklyn, NY, USA
$11,850,001
$1,063/SF
Building Size
11,148 SF
Asset Type
Mixed-use
Closing
Jul 21, 2020
About this deal
AI
348 Atlantic Ave. & 336 State St. in Boerum Hill has been sold in a mixed-use transaction. The property, with a total square footage of 11,148, is classified as tax class 2B. The sale took place on July 21, 2021, with a sale price of $11,850,001. The property consists of 12 units.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $11,850,001
- Address: 348 Atlantic Ave. & 336 State St.
- Market: Boerum Hill
- Tax Class: 2B
The buyer for this transaction is The Cofinance Group, represented by Mark Winter Gitelson and Alexandre de Montebello. The seller is Hidrock Properties, owned by the Hidary Family.
On the Map
$11,850,001
$1,063/SF
Mixed-use
View full map
Players
New York Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
Loading comparables…
Deal FAQ
Visit Mark Winter-Gitelson to view all their deals.
Browse New York mixed use sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.34%
Cash-on-Cash
-0.38%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93