Brooklyn (Brooklyn Heights), NY, 11201 | $5,500,000

TURNKEY! | CAN BE DELIVERED VACANT! | 3-FAMILY PLUS STORE! 101 Atlantic Ave is a massive 25-foot-wide mixed-use townhouse located at the crossroads of Brooklyn Heights and Cobble Hill. Spanning approximately 5, 500 square feet, this four-story property consists of three fully renovated large free-market residential apartments and one high-value retail space, presenting a compelling opportunity for an investor or retail end user. * Massive Income Potential: Features three fully renovated, free-market, full-floor residential apartments (~1, 375 SF each) offering strong turnkey income generation. * The retail layout provides flexibility to lease the 1, 160 SF storefront together with the 1, 375 SF cellar and 625 SF backyard to maximize commercial value. * Functions perfectly as an immediate income-producing property with a projected 5% Cap Rate, and the entire building can be delivered vacant. PROPERTY HIGHLIGHTS * Size: ~5, 500 Sq. Ft. across 4 full stories, plus a cellar, boasting a massive 25-foot width. * Modern Upgrades: Fully renovated residential apartments feature fully vented in-unit washer/dryers, stainless steel appliances, and dishwashers. * Historic Charm: Tall ceilings and classic Brooklyn townhouse charm throughout the residential floors, complemented by high ceilings in the ground-floor retail space. CURRENT CONFIGURATION * Cellar: Accessory use space (~1, 375 SF of bonus space) * 1st Floor: Retail storefront (~1, 160 SF) currently configured as a gym, with access to a 625 SF backyard * 2nd Floor: 2 Bed / 2 Bath * 3rd Floor: 2 Bed / 1 Bath * 4th Floor: 2 Bed / 1 Bath PROPOSED USAGE * Restaurant / Retail Destination: The layout lends itself perfectly to a restaurant conversion, utilizing the backyard as a private outdoor dining area and the cellar for additional accessory use. * Turnkey Investment: Rent out the free-market residential units alongside the highly visible commercial space for a steady, diversified income stream. LOCATION & TRANSPORTATION * Neighborhood Staples: Situated on a vibrant stretch of Atlantic Avenue known for its mix of restaurants, boutiques, and specialty grocers. Generates strong daily foot traffic and is just steps from Sahadi's, Trader Joe's, Boutros, and more. * Borough Hall Station: 2/3 and 4/5 trains (approx. 15 minutes to Lower Manhattan) * Court Street Station: N/R/W trains (approx. 20 minutes to Lower Manhattan) * Bergen Street Station: F/G trains (approx. 30 minutes to Midtown)

Features

  • Town: Brooklyn
  • Levels: 4
  • Rooms: 12
  • Bedrooms: 6
  • Baths: 6 full
  • Lot Size: 25.000000x80.000000
  • Laundry: See Remarks
  • Year Built: 1856
  • Approx Sq. Feet: 5,500
  • Est. Taxes: $59,472
  • Pet Policy: Building No,No
  • MLS#: RLS20085297
  • Days on Market: 121 days
  • Website: https://www.raveis.com
    /prop/RLS20085297/101atlanticavenue_brooklyn_ny?source=qrflyer
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All information is intended only for the Registrant’s personal, non-commercial use. This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. RLS Data display by William Raveis Real Estate, Inc.
Listing courtesy of Compass   Phone: (212) 913-9058

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Frank KolbSenior Vice President - Coaching & Strategic, William Raveis Mortgage, LLC

NMLS Mortgage Loan Originator ID 81725

203.980.8025

Frank.Kolb@raveis.com

Our Executive Mortgage Banker:

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Brooklyn (Brooklyn Heights), NY, 11201

$5,500,000

Customer Service

William Raveis Real Estate

Phone: 888.699.8876

Contact@raveis.com

Frank Kolb

Senior Vice President - Coaching & Strategic

William Raveis Mortgage, LLC

Phone: 203.980.8025

Frank.Kolb@raveis.com

NMLS Mortgage Loan Originator ID 81725

5/6 (30 Yr)
Adjustable Rate Jumbo*
30 Year
Fixed-Rate Jumbo
15 Year
Fixed-Rate Jumbo
Loan Amount $4,400,000 $4,400,000 $4,400,000
Term 360 months 360 months 180 months
Initial Interest Rate** 5.500% 6.000% 6.000%
Interest Rate based on Index + Margin 8.125%
Annual Percentage Rate 6.165% 6.086% 6.183%
Monthly Tax Payment $4,956 $4,956 $4,956
H/O Insurance Payment $125 $125 $125
Initial Principal & Interest Pmt $24,983 $26,380 $37,130
Total Monthly Payment $30,064 $31,461 $42,211

* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.

** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.

The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.