77 ATL Ave LLC Acquires Mixed-Use Property In Brooklyn Heights For $4.5M
77 Atlantic Ave, Brooklyn, NY 11201, USA
$4,500,000
$57/SF
Building Size
78,950 SF
Asset Type
Mixed-use
Closing
Oct 11, 2018
AI
Located in Brooklyn Heights, the mixed-use property at 77 Atlantic Avenue has been sold for a price of $4,500,000. Spanning across 7,895 square feet, this property offers a unique opportunity in this vibrant neighborhood. The sale was finalized on October 12, 2018, and the transaction cost per square foot was $570.
Summary of transaction details
- Property Type: Mixed-Use
- Transaction Amount: $4,500,000
- Square Footage: 7,895
- Address: 77 Atlantic Avenue
- Market: Brooklyn Heights
The seller of the property was Silvershore Properties, while the buyer was 77 ATL Ave LLC, represented by Chi Quach. The deal was facilitated by Ariel Property Advisors, with Victor Sozio, Sean Kelly, and Matthew Lev representing the seller. Additionally, Douglass Elliman played a role in the transaction. The involvement of these key individuals and companies ensured a successful transfer of the property.
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
3.53%
Cash-on-Cash
-1.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93