1007 Atlantic Avenue, Brooklyn, NY 11238

Clinton Hill, Brooklyn, New York 11238

$27,500,000  

Listing ID Number

25553

Property Description

1007 Atlantic Avenue is a luxury new-construction mixed-use elevator building spanning approximately 42,734 SF. The subject property is located on the north side of Atlantic Avenue between Classon Avenue and Grand Avenue in Clinton Hill, Brooklyn. The 8-story building has a total of fifty-one (51) units consisting of one (1) commercial unit and fifty (50) residential apartments. The residential unit mix is comprised of five (5) studios, thirty-three (33) one bedrooms, and twelve (12) two bedrooms. The ground-floor commercial unit totals 7,650 SF currently leased to Elmy’s Special Services Inc. until March 2028 with 3% annual increases. Furthermore, the property benefits from a 25-year 421A Tax Benefit.

The property is conveniently located 2 blocks from the C & S subway at Franklin-Fulton station, providing connectivity through Brooklyn and all of New York City.

Overview

Building Type:Apartment Buildings

Documents

Contact

For further information or inspection, please contact Exclusive Agents:

Stephen P. Palmese
Vice Chairman
(718) 307 6552
stephen.palmese@cushwake.com

Michael J. Mazzara
Director
(718) 606 7052
michael.mazzara@cushwake.com

James Berluti
Associate Director
(718) 606 7053
james.berluti@cushwake.com

Patrick Madigan
Associate
(718) 606 7058
patrick.madigan@cushwake.com

Stefan Sansone
Associate
(718) 307 6517
stefan.sansone@cushwake.com


Property Images

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Property Map


Aerial View


The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it. All zoning, buildable footages and uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example. It does not necessarily relate to actual vacancy, if any. The value of this investment is dependent upon these estimates and assumptions made above, as well as the investment income, the tax bracket, and other factors which your tax advisor and/or legal counsel should evaluate. THE PROSPECTIVE BUYER SHOULD CAREFULLY VERIFY EACH ITEM OF INCOME, AND ALL OTHER INFORMATION HEREIN.