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177 Atlantic Avenue

New York NY 11201

9
5
6250 sq. ft.
Multi-Family
Currently for sale - view listing

Overview

OPEN HOUSE AND SHOWINGS BY APPOINTMENT ONLY. For times and more info, click or copy/paste link: https://www.thesbnteam.com/177-atlantic-ave 177 Atlantic Ave is a massive 25' wide mixed-use townhouse at the crossroads of Brooklyn Heights and Cobble Hill. At approximately 6250 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 or retail end user. The retail space is fully built out as a sushi 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 2000 SF (approx.) with another 2000+ 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. 177 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 2 Bath apartment with all the amenities including in-unit washer dryer (fully vented), all new stainless steel appliances, dishwasher and split unit central A/C. The other two 3 Bed 1 Bath units provide a value add opportunity for a buyer to renovate and increase the rents. Each floor is approximately 1375 SF. High income potential. Please inquire for offering memorandum. Building is fully occupied. This offering is priced to sell at under $900/SF in an area where townhouses easily go for over $1,500/SF. Projected 5.8% Cap Rate. Configuration: Cellar: Accessory Use Space 1st Floor: Restaurant - Vacant 2nd Floor: 3 BR 2 BA 3rd Floor: 3 BR 1 BA 4th Floor: 3 BR 1 BA 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

Features

9 bedrooms
5 bathrooms
6250 sq. ft. floor area
Multi-Family

Property history for 177 Atlantic Avenue

2020
Sold
$3,850,000
06 Nov 2020

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Local market activity for 9 bedroom multi families in New York

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