Three-Property Package in Boerum Hill Sells for $2.8M
CPEX Real Estate reports the sale of a three-property package in Boerum Hill consisting of two mixed-use buildings and a vacant lot that the buyer intends to develop. The three adjacent lots at 284, 286 and 288 Atlantic Avenue, which together comprise 5,002 square feet of land, sold to a local real estate investor and developer for $2,800,000 in an all-cash transaction.
The four-story mixed-used buildings at 284 and 288 Atlantic have a total of 13 rent-stabilized apartments, all but one of which was occupied at the time of the sale. The buildings, which the buyer plans to renovate, both have a vacant ground-floor commercial space.