Updated 11 years ago
Off Market
395 Atlantic Ave
Downtown, Brooklyn | Hoyt Street & Bond Street
3,171 Square FeetMixed Use
$1,100,000
floors3
Lot Size21'x80'
Built Size21'x73'
ZoneR7A
Building TypeTownhouse
RE Taxes$16,893
Price Per SF
$347
Building Amenities
- Voice Intercom
Property Description for 395 Atlantic Ave
395 Atlantic Avenue is a 3 story, K9 Class commercial building, containing one retail store and two floor through lofts. The retail tenant has a lease that expires in the year 2014 & is paying well below market rent at $3,000 per month ($23.48 per foot) + utilities. The second & third floors are leased to one tenant, who pays $3,500 for both spaces, & has a lease expiring in August 2010.
The buyer for this property stands to reposition the lofts to residential w/in one year & collect $2,500 per floor. Additionally, with the retail lease expiring in a few short years, longer term upside exists in re-tenanting the commercial space and/or for an owner user to move his/her business into the space at that time. Furthermore, the opportunity exists to one day building the 3,549 square feet of development rights.
The owner of this property is motivated to sell, so be sure to submit all offers. Additionally, owner may consider holding a first mortgage.
The buyer for this property stands to reposition the lofts to residential w/in one year & collect $2,500 per floor. Additionally, with the retail lease expiring in a few short years, longer term upside exists in re-tenanting the commercial space and/or for an owner user to move his/her business into the space at that time. Furthermore, the opportunity exists to one day building the 3,549 square feet of development rights.
The owner of this property is motivated to sell, so be sure to submit all offers. Additionally, owner may consider holding a first mortgage.
Listing History for 395 Atlantic Ave
Now
07/20/2010
POM by Stephen Palmese
Cushman & Wakefield
2010
Building Details for 395 Atlantic Ave
OwnershipMixed Use
Building TypeTownhouse
Service LevelVoice Intercom
AgePre-War
AccessWalk-up
Year Built1935
Floors3
Transit and Citi Bike
Subway
Hoyt-Schermerhorn Sts
0.09 miles
Hoyt St
0.23 miles
Nevins St
0.25 miles
DeKalb Av
0.29 miles
Bergen St
0.31 miles
Citi Bike
Schermerhorn St & Hoyt St
0.1 miles
Dean St & Hoyt St
0.14 miles
All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.
OLR ID: 30186TH
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