BOOM!Projected 5.8% Cap Rate!!<br>144 Atlantic Ave is a massive 21' wide mixed-use townhouse at the crossroads of Brooklyn Heights and Cobble Hill. At approximately 4650 SF, this four story townhouse consists of three large free market apartments and one high value retail space. This offering presents a substantial opportunity for an investor.<br>The retail space is fully built out as a Mexican Lebanese restaurant with high ceilings and bonus cellar storage that contains a walk in fridge and freezer and other additional storage and accessory use spaces. The restaurant is over 1000 SF (approx.) with another 21000+ SF of bonus cellar space. This strip of Atlantic Ave has an abundance of restaurants, boutiques, and grocery stores that draw in high foot traffic. 144 Atlantic Ave is just steps from local neighborhood favorites such as Sahadi's, Trader Joe's, Boutrous and much much more.<br>Above the retail space is three apartments, each with extra tall ceilings, and original Brooklyn townhouse charm.<br>The first residential unit is a newly renovated 3 Bed 1 Bath apartment with tons of charm and light and a clever layout The other 2nd floor 3 Bed 1 Bath units provide a value add opportunity for a buyer to renovate and increase the rents. Top floor is completely renovated with a tasteful finish and charm! Each floor is approximately 1175 SF. High income potential. Please inquire for offering memorandum.<br>Building is fully occupied.<br>This offering is priced to sell at under $909/SF in an area where townhouses easily go for over $1,400/SF.<br>Projected 5.8% Cap Rate.<br>Configuration:<br>Cellar: Accessory Use Space<br>1st Floor: Restaurant - Lease expires in 2 years<br>2nd Floor: 3 BR 1 BA no lease<br>3rd Floor: 3 BR 1 BA no lease<br>4th Floor: 3 BR 1 BA no lease<br>Transportation:<br>- Borough Hall 2/3 & 4/5 Line - Just 15 minutes into Lower Manhattan<br>- Court Street Station N/R/W Line - Just 20 minutes into Lower Manhattan<br>- Bergen St F/G Line - Just 30 minutes into Midtown<br>New Roof , Electrical and pluming was updated in the last 10 years and all up to code!<br>this is your opportunity to own a real piece of commercial landmark!<br>
Property Details
Property Features
Property Information:
Architectural Style: Walk-Up
Year Built: 1910
Listing Office:
Office Name: Corcoran Group
Office Phone: (212) 355-3550
Listing Agent: Wassim Fakhereddine
Agent Phone: (718) 832-4155
Interior Features
Interior Information:
Basement: No
Fireplace: Decorative
Bedroom and Bathroom Information:
Partial Bathrooms: 2
Full Bathrooms: 5
Total Bedroom Count: 9
Exterior Features
Exterior Information:
View: City
Exterior: None
Price Information
Listing Price Info
Price Summary:
List Price: $4,200,000
HOA Fees:
Amount: $0
Frequency: Monthly
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Listing information for certain New York City properties provided courtesy of the Real Estate Board ofNew York’s Residential Listing Service (the “RLS”). The information contained in this listing has not beenverified by the RLS and should be verified by the consumer. The listing information provided here is forthe consumer’s personal, non-commercial use. Retransmission, redistribution or copying of this listing information is strictly prohibited except in connection with a consumer's consideration of the purchase and/or sale of an individual property.
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This advertisement does not suggest that the broker has a listing in this property or properties or that any property is currently available. Last updated on: 11/21/2024, 1:20:50 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
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Schools
Schools Nearby
The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.
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Nearby Schools
9
/10
Success Academy Charter School-Cobble Hill
284 Baltic St Lowr Level
Distance between this listing and this school0.35 miles
Public Charter Grades KG-4
6
/10
P.S. 261 Philip Livingston School
314 Pacific St
Distance between this listing and this school0.39 miles
Public District Grades KG-5
8
/10
International Charter School of New York (The)
47 Willoughby St # 55
Distance between this listing and this school0.45 miles
Public Charter Grades KG-5
Nearby Schools
9
/10
P.S. 29 John M. Harrigan School
425 Henry St
Distance between this listing and this school0.27 miles
Public District Grades PK-8
7
/10
Brooklyn Prospect Charter School-Csd 13
80 Willoughby St
Distance between this listing and this school0.51 miles
Public Charter Grades KG-8
9
/10
P.S. 58 Carroll School
330 Smith St
Distance between this listing and this school0.68 miles
Public District Grades PK-8
Nearby Schools
5
/10
Brooklyn Frontiers High School
112 Schermerhorn St
Distance between this listing and this school0.30 miles
Public District Grades 9-12
6
/10
Digital Arts and Cinema Technology High School
284 Baltic St
Distance between this listing and this school0.36 miles
Public District Grades 9-12
4
/10
Boerum Hill School for International Studies (The)
284 Baltic St
Distance between this listing and this school0.36 miles
The neighbors living near this home have an average income of $92,143. Most New York, NY residents have annual incomes between $35k-100k. The majority of families are single, no kids. The most common level of education of people living in this area is post secondary degree.
All data provided by Home Junction and Claritas
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This home is located at 144 Atlantic Ave Bldg in Bldg New, York City, NY and zip code 11201 in the South Brooklyn neighborhood. This home was built in 1910. Features: 9 bedrooms, 7 bathrooms. It has been listed on Rocket Homes since October 01, 2024 and is currently priced at $4,200,000.
In October 2024, from all listings sold in New York, NY there were more than 269 sold above asking price, over 833 sold below and more than 850 were sold right at the asked price. Between September 2024 and October 2024, New York, NY real estate market has seen increase in the number of listings by 1.8%. In October 2024, listings were on the market for 84 days. During the same period, the median list price in this real estate market was $856,124.
From Rocket Homes Real Estate and based on county public records data.
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