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Brooklyn Heights Mixed-Use Duo Fetches $8M

Ariel Property Advisors has facilitated the sale of 99 and 103 Atlantic Ave., two mixed-use buildings in Brooklyn Heights’ popular Historic District. The pair of four-story buildings, which are dominated by free-market residential units, sold for $8 million, or $736 per square foot.

Located on the north side of Atlantic Avenue between Hicks Street and Henry Street, the properties total 11 residential units, 10 of which are free market, along with two ground-floor retail units.

Ariel’s Sean R. Kelly and David Khukhashvili represented the seller, Itzhaki Acquisitions, and procured the buyer, Cheever Development.

“The buyer acquired prime turn-key, cash-flowing assets in a neighborhood that has seen substantial appreciation over the past 10 years, as Greater Downtown Brooklyn’s renaissance continues,” said Kelly.

For comments, questions or concerns, please contact Paul Bubny

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition
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