All 80 Units Have Sold at the Atlantic Terrace Co-op


    Atlantic Terrace, the co-op on Atlantic Avenue with both market- and affordable-rates units, has sold out. The buildings hits the milestone about one-and-a-half years after hitting the market. Heather Gershen, the director of the Fifth Avenue Committee, said “we’re very pleased from both the timing and the pricing perspective” and that all units are expected to close within the year. 60 of the 80 units were priced below market rate and went into contract quickly. The 20 market-rate co-ops were priced between $365,000 for a one-bedroom to $1,095,000 for a two-bedroom (plus office) penthouse. Fifth Avenue Committee still actively seeks a restaurant or retailer tenant for the commercial ground-floor. We’ve heard there’s quite a bit of demand for commercial space near a certain arena that’s opening up not too far away…
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