Jason Richelson Acquires Mixed-use Property On Atlantic Avenue In Brooklyn For $2.6M
410 Atlantic Avenue, Brooklyn, NY 11217
$2,625,000
$826/SF
Building Size
3,178 SF
Asset Type
Mixed-use
Closing
Oct 7, 2021
About this deal
AI
A mixed-use property located at 410 Atlantic Avenue in Brooklyn was recently sold for $2,625,000. The property spans an area of 3,178 square feet, resulting in a price per square foot of $826. The transaction took place on October 7, 2021, and involved Jason Richelson as the buyer and Alex Avitabile as the seller. The property is zoned as R6A and C2-4, allowing for mixed-use purposes. It is situated in the Brooklyn market, known for its vibrant real estate scene.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $2,625,000
- Address: 410 Atlantic Avenue, Brooklyn
- Market: Brooklyn
- Zoning: R6A, C2-4
The brokerage team involved in facilitating the sale included Derek Bestreich, Luke Sproviero, Adam Lobel, Toby Waring, Daniel Shawah, and Gabriel Kates from Bestreich Realty Group (BRG). Their expertise and representation played an integral role in ensuring a successful transaction for both the buyer and the seller.
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
6.04%
Cash-on-Cash
-1.73%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93