77 ATL AVE LLC Acquires Mixed-Use Building In Brooklyn From Silvershore Properties
SOLD
$4,500,000
New York
See Similar DealsMixed-use7,895 SF
SOLD
77 ATL AVE LLC Acquires Mixed-Use Building In Brooklyn From Silvershore Properties
77 Atlantic Ave, Brooklyn, NY, 11201
See Similar DealsMixed-use7,895 SF
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$570
Total Square Footage:7,895 SF
Transaction Type:Sale
The property involved in the transaction is a four-story mixed-use building located at 77 Atlantic Ave in Brooklyn, NY, 11201. The asset spans 7,895 square feet and consists of two commercial units and six apartments. The sale price for this property was $4,500,000.00 with Ariel Property Advisors brokering the deal between the seller, Silvershore Properties, and the buyer, 77 ATL AVE LLC.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $4,500,000.00
- Market: Brooklyn
- Seller's Rep: Sean Kelly(CBRE)
- Buyer: 77 ATL AVE LLC
- SF: 7895
Victor Sozio, Sean Kelly, and Matthew Lev from Ariel Property Advisors represented the seller, Silvershore Properties, in this transaction. The buyer, 77 ATL AVE LLC, acquired this property situated near Brooklyn Bridge Park and close to popular retailers like Urban Outfitters and Trader Joe’s.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$240,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$15,987.55
Cash-on-Cash Return-1.27%
Monthly Debt Service$21,332.30
Annual Debt Service$255,987.55
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