77 ATL AVE LLC Acquires Mixed-Use Building In Brooklyn From Silvershore Properties
77 Atlantic Ave, Brooklyn, NY, 11201
$4,500,000
$570/SF
Building Size
7,895 SF
Asset Type
Mixed-use
Closing
Nov 22, 2023
About this deal
AI
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.
On the Map
$4,500,000
$570/SF
Mixed-use
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Players
Brooklyn 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
3.53%
Cash-on-Cash
-1.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93