JLL Brokers Sell Mixed-Use Property On Atlantic Avenue, Boerum Hill For $9.25M
SOLD
$9,250,000
+ 2
New York
See Similar DealsMixed-use14,504 SF
Sold 03/02/2022
SOLD
JLL Brokers Sell Mixed-Use Property On Atlantic Avenue, Boerum Hill For $9.25M
399 Atlantic Avenue, Brooklyn, New York 11201, United States
See Similar DealsMixed-use14,504 SF
Sold 03/02/2022
+ 2
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$637
Total Square Footage:14,504 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$493,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$32,863.31
Cash-on-Cash Return-1.27%
Monthly Debt Service$43,849.72
Annual Debt Service$526,196.63
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