Closed 12/22/2014

3-Unit Mixed Use Building

994 Atlantic Avenue

Crown Heights

Closed 12/22/2014 at

Total Units 3
Residential Units 2
Commercial Units 1
Gross SF 3,200
Cross Streets Grand Ave & Classon Ave
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Mixed-Use 994 Atlantic Avenue, Crown Heights
Ofer Cohen
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Block_Lot 1125_8
lot Size 20 ft x 80 ft
Lot SF 1,600
Zoning M1-1
Building Class S2
Building Size - Ground Floor 20 ft x 80 ft
Building Size - 2nd/3rd Floor 20 ft x 40 ft


TerraCRG has been retained to exclusively represent ownership in the sale of the mixed use building at 994 Atlantic Avenue, situated on the Crown Heights/Clinton Hill border of Brooklyn. Located between Grand Avenue & Classon Avenue, the 3,200 SF property consists of 2 two-bedroom apartments and a ground floor commercial space all occupied. The property is zoned M1-1 so the building is overbuilt by 1,600 SF and is grandfathered in for mixed use.

Current residential rents in the building are averaging $21/SF, leaving significant upside with both residential leases expiring in less than one year and residential rents in the area achieving $40/SF and up. Both units are in good condition and the second floor apartment has a large 20 ft x 40 ft roof deck. The ground floor retail space is built full to the lot, 20 ft x 80 ft, and the tenant has 4 years remaining on their lease. The retail tenant is a restaurant equipment service company and is currently paying $3,700 per month and will increase $100 per month every April until the lease expiration in 2018.

The property is only three blocks from the Franklin Ave C subway station, and the S shuttle train that runs north and south on Franklin Avenue connecting the 2,3,4,5,B & Q subway lines. Also a short distance form the property is the Barclays Center and the Atlantic Terminal Mall with access to several national retail tenants and the 2,3,4,5 D,N,R,B & Q subway lines and the LIRR


When it comes to Brooklyn neighborhoods, Clinton Hill plays crowd favorite. Celebrated for its diversity of people, restaurants, and activities; Clinton Hill caters to Pratt Institute students and ambitious professionals alike. Artsy but not over-the-top and cool but not unapproachable, this laid-back neighborhood deserves its amiable reputation. Add accessibility to Clinton Hill’s affability, and it’s easy to understand why this neighborhood has so many fans.

Barclays Center
Atlantic Terminal
1000 Dean Street

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