Atlantic Avenue Retail Condo Sells for Over $1,000 PSF
By Danielle Schlanger April 13, 2015 11:03 am
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Barrett Design and Development’s new retail condominium at 440 Atlantic Avenue steps from the Barclays Center, has been sold for $3.25 million, or $1,142 per square foot, according to real estate firm CPEX.
The 4,756-square-foot property includes 2,846 square feet of ground-floor retail and 1,910 square feet of cellar space.
CPEX’s Andre Sigourney and Harrison Balisky represented Barrett Design in the transaction. It also procured the buyer, a medical office user, whom CPEX declined to further identify. No broker represented the buyer in the deal.
The deal closed on March 30.
“It is no surprise that we received a tremendous level of interest for this retail condo,” said Mr. Sigourney in prepared remarks. “Investors continue to bet on the rapid growth in retail rents along primary Brooklyn retail corridors like Atlantic Avenue. Ultimately it was an owner-user with an established presence in this market who beat out the competition.”
