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144 Atlantic Avenue
Apartment #BLDG
$4,200,000 Price
9 Bedrooms   5.2 Baths
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144 Atlantic Avenue, Cobble Hill, New York

BOOM!Projected 5.8% Cap Rate!! 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...

BOOM!Projected 5.8% Cap Rate!! 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!

Courtesy of Corcoran Group

Floorplan for 144 Atlantic Avenue, BLDG

Floorplan for 144 Atlantic Avenue, BLDG

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* All information furnished regarding property for sale, rental, financing or estimated mortgage rates is from sources deemed reliable but no warranty or representation is made as to the accuracy thereof. For further financing information, please contact a Brown Harris Stevens agent.

Listing Details

Cobble Hill, New York
Type:
Price: $4,200,000
Web ID: 1082761386

Info & Amenities

Rooms: 20.0
Bedrooms: 9
Full Bathrooms: 5
Half Bathrooms: 2.0
Woodburning fireplaces: 1
Built: 1910

Get to Know Cobble Hill

Cobble Hill is a small, laid-back neighborhood comprising 40 blocks in northwest Brooklyn. It offers easy access to the water and sits adjacent to Brooklyn Heights, Boerum Hill, and Carroll Gardens. Most of the action takes place on Court Street, the community’s main artery lined with hip cafes, restaurants and boutiques. The neighborhood was named after a conically shaped hill located at the present-day intersection of Atlantic Avenue, Pacific Street and Court Street. The incline was known as 'Ponkiesbergh' to early Dutch settlers, which directly translates to “Cobble Hill.” Today, Cobble Hill is considered the wealthiest area in Brooklyn, and is often listed alongside upscale Manhattan communities like the Upper East Side and Soho as one of the most desirable locations in the city. Thanks to its well-preserved 19th-century architecture, pristine brownstones and stunning row houses, Cobble Hill has been designated as a historic district.

More About Cobble Hill

Neighborhood Guide to Cobble Hill

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