Active

144 Atlantic Avenue BLDG

Brooklyn NY, 11201

$4,200,000


Active

9 Beds

6 Baths

Multi-family

Built in 1910

BOOM!
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.

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.

Above the retail space is three apartments, each with extra tall ceilings, and original Brooklyn townhouse charm.
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.

Building is fully occupied.
This offering is priced to sell at under $909/SF in an area where townhouses easily go for over $1,400/SF.
Projected 5.8% Cap Rate.

Configuration:
Cellar: Accessory Use Space
1st Floor: Restaurant - Lease expires in 2 years
2nd Floor: 3 BR 1 BA no lease
3rd Floor: 3 BR 1 BA no lease
4th Floor: 3 BR 1 BA no lease

Transportation:
- Borough Hall 2/3 & 4/5 Line - Just 15 minutes into Lower Manhattan
- Court Street Station N/R/W Line - Just 20 minutes into Lower Manhattan
- Bergen St F/G Line - Just 30 minutes into Midtown

New Roof , Electrical and pluming was updated in the last 10 years and all up to code!
this is your opportunity to own a real piece of commercial landmark!

RPLU-33423164160

MLS ID

September 3, 2024

Listed

September 17, 2024

Updated

Map

144 Atlantic Avenue BLDG
Brooklyn NY, 11201

Interior Features

Total Stories

4


Bedrooms

9


Total Bathrooms

6


Full Bathrooms

5


Half Bathrooms

2


Laundry Description

Building None, Washer Hookup


Fireplace

Yes


Fireplace Description

Decorative


Cooling

No


Heating

No

Exterior/Building Features

Exterior Features

None


Architectual Style

Walk-Up

Other Property Details

HOA Frequency

Monthly


Garage

No


View

Yes


View Description

City


County

Kings


Pool

No


Zoning

R6

Listed by Wassim Fakhereddine with Corcoran Group
Listing Contact: (718) 832-4155 

Listing information for certain New York City properties provided courtesy of the Real Estate Board of New York’s Residential Listing Service (the “RLS”). The information contained in this listing has not been verified by the RLS and should be verified by the consumer. The listing information provided here is for the 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. This listing information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. ©2024 The Real Estate Board of New York, Inc., all rights reserved. This advertisement does not suggest that the broker has a listing in this property or properties or that any property is currently available.

This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. ©2024  The Real Estate Board of New York, Inc., All rights reserved

Data last updated on 9/17/2024 at 3:24 PM UTC

 

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