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399 Atlantic Avenue, Brookl...

JLL Brokers Sell Mixed-Use Property On Atlantic Avenue, Boerum Hill For $9.25M
SOLDMixed-use

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

Vickram Jambu

JLL

Broker

$1.1B

vol

30 deals

Broker

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