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$9,950,000
●
Condo -
Off Market
557 Atlantic Ave #CU1S
Brooklyn, NY 11217
Studio
10 Baths
7745 Sqft
$51,489
Estimated Monthly
$2,267
HOA / Fees
0.10%
Cap Rate
About This Property
TENANT: Memorial Sloan Kettering
LEASE TERM: 10 years commencing March 2009
+ (2) 5 year options
GROSS RENT: $443,631, 3% escalations
TAXES: *$4,386 (approx.)
COMMON CHARGES: **$2,267
NOI: $412,041
*Tenant is responsible for any increases in Real Estate Tax above base year of $4,435
PROPERTY DESCRIPTION:
This is a unique opportunity to own prime retail space on Atlantic Avenue. Located just steps from Barclays Center, BAM, Atlantic Center Mall and the Atlantic Avenue subway terminal offering access to the 2,3,4,5,B,D,N,Q,R & LIRR. The location is extremely strong and will maintain its value over time as demand for commercial space in this area continues to grow.
LEASE TERM: 10 years commencing March 2009
+ (2) 5 year options
GROSS RENT: $443,631, 3% escalations
TAXES: *$4,386 (approx.)
COMMON CHARGES: **$2,267
NOI: $412,041
*Tenant is responsible for any increases in Real Estate Tax above base year of $4,435
PROPERTY DESCRIPTION:
This is a unique opportunity to own prime retail space on Atlantic Avenue. Located just steps from Barclays Center, BAM, Atlantic Center Mall and the Atlantic Avenue subway terminal offering access to the 2,3,4,5,B,D,N,Q,R & LIRR. The location is extremely strong and will maintain its value over time as demand for commercial space in this area continues to grow.
Unit Size
7,745Ft²
Days on Market
-
Land Size
-
Price per sqft
$1,285
Property Type
Condo
Property Taxes
$365
HOA Dues
$2,267
Year Built
2006
Last updated: 5 months ago ( #OLRS-1171656)
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Mar 2, 2015 | Sold to Park Lane Commerce Llc | $8,800,000 | |
| Sold to Park Lane Commerce Llc | |||
| Jul 20, 2013 | Listed by Madison Estates | $9,950,000 | |
| Listed by Madison Estates | |||
Property Highlights
Garage
Doorman
Parking Details
Has Garage
Interior Details
Bathroom Information
Full Bathrooms: 10
Room Information
Rooms: 10
Exterior Details
Property Information
PropertySubType: Apartment
Living Area: 7745
Living Area Units: SquareFeet
Building Information
Building Name: Boerum Heights
Stories (Total): 8
Financial Details
Tax Annual Amount: $4,380
Flip Tax Remarks: ASK EXCL BROKER
Flip Tax Type: Percent
Tax Deduction Remarks: ASK EXCL BROKER
Location Details
Association Fee: $2,267
Community Features: Bike Storage, Fitness Center, Storage
Pets Allowed: Unit No, Building Yes
Other Details
Coexclusive: No
Comparables
Unit
Status
Status
Type
Beds
Baths
ft²
Price/ft²
Price/ft²
Asking Price
Listed On
Listed On
Closing Price
Sold On
Sold On
HOA + Taxes
House
6
Beds
5
Baths
7,600 ft²
$1,053/ft²
$8,000,000
Mar 23, 2020
$8,000,000
Feb 3, 2022
-
Townhouse
6
Beds
6
Baths
6,500 ft²
$1,385/ft²
$9,000,000
Apr 5, 2021
$9,000,000
Sep 1, 2021
-
House
6
Beds
5
Baths
6,000 ft²
$1,561/ft²
$9,365,000
Oct 4, 2021
$9,365,000
Aug 17, 2022
-
Multifamily
6
Beds
6
Baths
5,700 ft²
$1,456/ft²
$8,300,000
Oct 21, 2022
$8,300,000
Sep 22, 2023
-
Townhouse
7
Beds
4
Baths
4,000 ft²
$2,125/ft²
$8,500,000
Oct 16, 2020
$8,500,000
Aug 31, 2021
-
Condo
5
Beds
7
Baths
5,671 ft²
$1,674/ft²
$9,495,000
Feb 27, 2024
-
$1,835/mo
Active
Townhouse
5
Beds
5
Baths
6,011 ft²
$1,489/ft²
$8,950,000
Apr 10, 2024
-
$545/mo
Active
Condo
4
Beds
4
Baths
3,500 ft²
$2,843/ft²
$9,950,000
Feb 23, 2024
-
$5,051/mo
Active
House
5
Beds
5
Baths
5,678 ft²
$2,069/ft²
$11,750,000
Jun 30, 2023
-
$1,888/mo
Active
Multifamily
8
Beds
5
Baths
4,738 ft²
$2,058/ft²
$9,750,000
Feb 12, 2024
-
$1,674/mo
In Contract
Townhouse
5
Beds
5
Baths
4,000 ft²
$2,088/ft²
$8,350,000
Nov 15, 2023
-
$1,486/mo
Past Sales
| Date | Unit | Beds | Baths | Sqft | Price | Closed | Owner | Listed By |
|---|---|---|---|---|---|---|---|---|
|
04/05/2022
|
2 Bed
|
2 Bath
|
1069 ft²
|
$1,150,000
2 Bed
2 Bath
1069 ft²
|
$1,200,000
+4.35%
08/09/2022
|
Christina Fallon
Realty Collective LLC
|
||
|
03/29/2022
|
2 Bed
|
2 Bath
|
975 ft²
|
$1,050,000
2 Bed
2 Bath
975 ft²
|
$1,075,000
+2.38%
06/13/2022
|
Jason Wang
Compass
|
||
|
06/17/2021
|
2 Bed
|
2 Bath
|
-
|
$995,000
2 Bed
2 Bath
|
$999,000
+0.40%
10/22/2021
|
Abigail Palanca
Serhant LLC
|
||
|
06/15/2021
|
2 Bed
|
2 Bath
|
-
|
$989,900
2 Bed
2 Bath
|
$992,000
+0.21%
11/23/2021
|
Pamela Young
Compass
|
||
|
07/20/2013
|
Studio
|
10 Bath
|
7745 ft²
|
$9,950,000
Studio
10 Bath
7745 ft²
|
-
-
|
-
|
Joseph Baglio
Madison Estates Downtown Ltd
|
|
|
11/01/2011
|
2 Bed
|
2 Bath
|
-
|
$849,000
2 Bed
2 Bath
|
$792,000
-6.71%
10/01/2012
|
Richard DeSilvia
Madison Estates
|
Building Info
