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Property profile & analytics
FOR LEASE
Super regional malls
625 Atlantic Ave, Brooklyn, NY 11217
Individually Owned
2-yr Hold
~
Est. High Equity
Property ID
US63-2268907
For Lease
1 / 2
$8,120,000
625 Atlantic Ave, Brooklyn, NY 11217
View Listing →
Property profile
Verified
Property type
Super regional malls
Use group
REGIONAL SHOPPING CENTER, MALL
Year built
1995
Total area
767,750 SF
Lot
3.78 ac (164,570 SF)
Zoning code
C6-4
APN
02002-0001
UPID
US63-2268907
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Burlington Department Store
-
Robert L. Spivack, RPH Pharmacy
-
Stop & Shop Grocery & Convenience Store Food Market
-
Party City Party Supply Store (Bike/Boat/Book/etc) Store
-
Flagstar Bank Bank Loan Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$8.12M
Owner & transaction history
Atlantic Center Fort Greene Associa · 2 yrs held
Atlantic Center Fort Greene Associa
since 2024
3 recorded transactions
Zoning & alternative use
C6-4 · Brooklyn, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Brooklyn submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Brooklyn submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$11 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Assessed value
$62,692,200
Assessed 2024
Previous assessed
$53,374,950
+17.5% YoY
Assessed land
$5,175,000
Assessed improvement
$57,517,200
Land market value
$11,500,000
Improvement market value
$127,816,000
Total market value
$139,316,000
Applied tax rate
4.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Super regional malls
Use group
REGIONAL SHOPPING CENTER, MALL
Status
For Lease
Year built
1995
Heating
NONE
Buildings
1
Stories
3
Units
25
Total area
767,750 SF
Lot
3.78 ac (164,570 SF)
Zoning code
C6-4
APN
02002-0001
UPID
US63-2268907
Jurisdiction
KINGS(BROOKLYN)
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
C6-4 · Brooklyn, NY
Zoning C6-4 · permitted uses
C6-4 · Brooklyn, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Brooklyn. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1995
Heating
NONE
Stories
3
Buildings
1
Units
25
Lot
3.78 ac
Current owner
From public records · entity-resolved
Atlantic Center Fort Greene Associa
Individual
Mailing address
127 PUBLIC SQ STE #2410, CLEVELAND, OH 44114-1218
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 25, 2024
—
Atlantic Center Fort Greene Associa
—
Deed
related
$1,892,423 · Voya Investment Management LLC
—
—
Atlantic Ctr Fort Greene Assoc
—
Loan Modification
related
$88,000,000 · Ing Life Ins & Annunity Co
—
—
Atlantic Center Ft Greene Asso
—
Deed Of Trust
related
$40,005,089 · Ing Life Ins & Annunity Co
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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