358 Atlantic Ave Brooklyn, NY 11217-1703

This exceptional bankruptcy sale presents a rare opportunity to acquire a substantial mixed-use portfolio in the heart of Brooklyn, NY. The property comprises two contiguous buildings at 358 & 360 Atlantic Avenue, boasting a combined 6,768 square feet across four stories. The buildings offer seven free-market residential units and three retail spaces, presenting significant upside potential for rental income. 358 Atlantic Avenue, a four-story building, encompasses 3,520 square feet with three residential units and one retail space. Its neighbor, 360 Atlantic Avenue, is a three-story building totaling 3,248 square feet, featuring four residential units and two retail spaces. The property benefits from a prominent 50-foot frontage on Atlantic Avenue, a prime retail corridor situated between Hoyt and Bond Streets. Its strategic location places it within easy reach of downtown Brooklyn's vibrant retail hub on Flatbush Avenue (including Whole Foods, Apple, Target, and Trader Joe's), and less than half a mile from Atlantic Terminal and Barclays Center. Convenient access to multiple subway lines at Hoyt-Schermerhorn Street, Nevins Street, and Dekalb Avenue stations further enhances its appeal. This property is situated in a bustling, high-demand neighborhood, offering a compelling investment opportunity with substantial rental growth potential. The lot size ranges from 1,760 to 2,520 square feet. The buildings were constructed in 1900. The auction requires a starting bid of $5,050,000 and is subject to bankruptcy court approval. The bid deadline is Tuesday, December 3rd, 2024, at 5:00 PM, with the auction scheduled for Thursday, December 5th, 2024, at 2:30 PM.