Marcus & Millichap - Tri Borough Multi-Family

450 Atlantic Avenue

450 Atlantic Avenue
, Brooklyn

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Price: $1,550,000
Building Size: 4,488 Square Feet
Property Type: Mixed-use
Exclusive Listing Team:
Matt Fotis
Tel: 212-430-5206

In the winter of 2008, we were hired exclusively to market a mixed-use property at 450 Atlantic Avenue, in the Boerum Hill section of Brooklyn, NY. It was composed of 6 apartment units and 1 retail unit. The seller was retiring and no longer wanted to manage the property, they were fortunate to have chosen a time in the market where values had peaked. We were able to generate 22 competitive offers in writing. Ultimately, we procured a buyer in a 1031 Exchange, who paid $100,000 over the asking price and closed in 60 days while still obtaining a mortgage from a bank.