SOLD
Cheever Development Acquires Multifamily Buildings In Brooklyn Heights For $8M
99, 103 Atlantic Ave,Brooklyn,New York
MultiFamily
10,875 SF
10,875 SF
Sold 1 year ago
Summary
Sale
NEW YORK
MultiFamily
10,875 sqft
Two mixed-use buildings in Brooklyn Heights were recently sold in a closed transaction. The assets, located at 99 and 103 Atlantic Ave, were sold as a package deal. The multifamily properties offer a total square footage of 10,875. The sale took place on May 10, 2019.
Summary of transaction details:
- Property Type: Multifamily
- Sale Price: $8,000,000
- Price per Square Foot: $735
- Market: Brooklyn
The seller of the properties was Itzhaki Acquisitions, represented by Erez Itzhaki and Gil Boosidan. The buyer, Cheever Development, was represented by Matt Lonuzzi. The transaction was facilitated by brokers Sean R. Kelly, Esq, and David Khukhashvili.
The package deal of these Brooklyn Heights mixed-use buildings offers a 5.25% Cap Rate. The acquisition provides a significant investment opportunity within a desirable location.
Players
All
3
Agents
2
Agencies
1
Details
SOLD
IMAGE: Sean Kelly, Erez Itzhaki & David Khukhashvili
DATE: 05/10/2019
ADDRESS: 99, 103 Atlantic Ave
MARKET: Brooklyn
ASSET TYPE: Multifamily
SELLER: ITZHAKI ACQUISITIONS - Erez Itzhaki & Gil Boosidan
BUYER: Cheever Development - Matt Lonuzzi
BROKERS: Sean R. Kelly, Esq , David Khukhashvili
ASKING PRICE: $8,000,000
SF: 10,875 ~ PPSF: $735
NOTE: Package of Two Mixed-Use Buildings in Brooklyn Heights. 5.25% Cap Rate.View on map
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Address99, 103 Atlantic Ave,Brooklyn,New York
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