The Reel

Follow us:

A blog for breaking sales and neighborhood real estate news.

Two mixed-use buildings at 405 - 407 Atlantic Avenue, located between Bond and Nevins Streets in Brooklyn's Boerum Hill neighborhood, were sold in an all cash transaction valued at $1,873,000.
The adjacent properties each remain on 17' x 90' lots and measure a total of approximately 4,500 square feet.  Both properties have a retail unit on the ground floor and two apartments above. The sale price equates to $417 per square foot.

"This transaction is an illustration of the flight to quality that we have seen in the market.  With little inventory, investors continue to find security in established neighborhoods with tangible upside potential," said Massey Knakal Director of Sales Stephen Palmese who exclusively handled this transaction with Associate Winfield Clifford. 

Click here for press release

Neighborhoods: Boerum Hill/ Agents: Stephen Palmese