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77 Atlantic Ave, Brooklyn, ...

77 ATL Ave LLC Acquires Mixed-Use Property In Brooklyn Heights For $4.5M
SOLDMixed-use

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

Sean R. Kelly, Esq.

Ariel Property Advisors

Broker

$540.8M

vol

57 deals

Broker
7L
77 ATL Ave LLCBuyer
SP
Silvershore PropertiesSeller

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