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

Property Image
SOLD
$4,500,000
Sean R. Kelly, Esq.
Philippe Salame
+ 1

New York

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Mixed-use78,950 SF
Sold 10/12/2018
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Property Image
SOLD

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

77 Atlantic Ave, Brooklyn, NY 11201, USA

See Similar Deals
Mixed-use78,950 SF
Sold 10/12/2018
Sean R. Kelly, Esq.
Philippe Salame
+ 1
Contact now

Summary

NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$57
Total Square Footage:78,950 SF
Transaction Type:Sale

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.
56 deals$529.8M volume
BROKER

Victor Sozio
Ariel Property Advisors
111 deals$2.3B volume
BROKER

Matthew Lev
Ariel Property Advisors
2 deals$20.5M volume
BROKER

Philippe Salame
Douglas Elliman
1 deal$4.5M volume
BROKER

BUYER

Details

SOLD
IMAGE: Matthew Lev, Victor Sozio and Sean Kelly DATE SOLD: 10/12/2018 ADDRESS: 77 Atlantic Avenue MARKET: Brooklyn Heights ASSET TYPE: Mixed-Use PRICE: $4,500,000 / SF: 7,895 / PPSF: $570 SELLER: Silvershore Properties BUYER: 77 ATL Ave LLC – Chi Quach BROKERS: Ariel Property Advisors – Victor Sozio, Sean Kelly, Matthew Lev (for seller), Douglass Elliman- […]

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Deal Type
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