JLL Brokers Sell Mixed-Use Property On Atlantic Avenue, Boerum Hill For $9.25M
399 Atlantic Avenue, Brooklyn, New York 11201, United States
$9,250,000
$637/SF
Building Size
14,504 SF
Asset Type
Mixed-use
Closing
Mar 1, 2022
AI
In a recent closed property transaction in Boerum Hill, Brooklyn, a mixed-use asset located at 399 Atlantic Avenue was sold for a total price of $9,250,000. The property spans across 14,500 square feet, resulting in a price per square foot of $637.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $9,250,000
- Address: 399 Atlantic Avenue
- Market: Boerum Hill, Brooklyn
The seller of this property was Michael Marino, who enlisted the services of brokers Stephen Palmese, Connor McCullough, and Vickram Jambu, all representing JLL.
This sale showcases the successful collaboration between Michael Marino and brokers Stephen Palmese, Connor McCullough, and Vickram Jambu from JLL. Their combined efforts resulted in the closing of this mixed-use property deal at 399 Atlantic Avenue.
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
1.71%
Cash-on-Cash
-0.49%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93