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292-294 Atlantic Avenue

292 Atlantic Avenue, Brooklyn, NY 11201

  • For Sale $9,950,000
  • City Brooklyn
  • Neighborhood Boerum Hill
  • Zip Code 11201
  • Property Type Mixed Use
  • Property Size 7,500 Sqft
  • Lot Size 0.07 Acre
  • Date Updated 10 Mar, 2020

Ariel Property Advisors presents 292-294 Atlantic Avenue, a prime mixed-use investment opportunity located at the southeast corner of Atlantic Avenue and Smith Street in the Boerum Hill neighborhood of Brooklyn.

The subject property is a 7,500 square foot, four (4) story walk-up that features 120’ of prime retail frontage at one of Brooklyn’s most heavily trafficked corners. The building’s nine (9) units consist of one office space, three (3) retail units, and five (5) free market apartments. Ownership recently signed a new 15-year lease for a high-end deli that is owned by experienced operators with several similar stores throughout the city. One apartment is a large one-bedroom unit and the other four apartments have two bedrooms. The office unit’s lease expires in 2020 and gives future owners the opportunity to extract additional upside by repositioning to residential use. R6A/C2-4/DB zoning provides 2,100 square feet of air rights, as-of-right.

292-94 Atlantic Avenue is centrally located among some of Brooklyn’s most popular neighborhoods and attractions. New residential towers and boutique condominiums are hitting record prices. Residents have access to great restaurants and shopping along Smith Street, Court Street and Atlantic Avenue. Brooklyn Bridge Park, The Brooklyn Promenade and the Barclays Center are all a short walk from the asset. Lastly, 292-94 Atlantic Avenue is easily accessible via the F/G trains at the Bergen Street, the A/C/F trains at Jay Street, and the 2/3/4/5 trains at Borough Hall.

With strong in-place cash flow and significant upside in a rapidly growing area, 292-294 Atlantic Avenue represents an outstanding opportunity for investors and owner-users.

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Contacts

Michael A. Tortorici

Ariel Property Advisors

(212) 544-9500 x 13

Stephen Vorvolakos

Ariel Property Advisors

(212) 544-9500 x 25

Shimon Shkury

Ariel Property Advisors

(212) 544-9500 x 11

Sean R. Kelly

Ariel Property Advisors

(212) 544-9500 x 59

David Khukhashvili

Ariel Property Advisors

(212) 544-9500 x 77

FREQUENTLY ASKED QUESTIONS

What is the total square footage of 292-294 Atlantic Avenue?

292-294 Atlantic Avenue totals 7,500 square feet.

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