HFF sells Atlantic Stamp Building for $19 million and arranges $9 million financing; Zurich North America sells 307-309 Atlantic Ave. to Twining Properties

Brooklyn, NY Holliday Fenoglio Fowler, L.P. (HFF) has completed the $19 million sale of and $9 million financing for The Atlantic Stamp Building, 307-309 Atlantic Ave., an eight-story, 26-unit property.

 

 

 

The HFF team comprising managing directors Jeff Julien and Rob Hinckley and director Steven Rutman represented the seller, an affiliate of Zurich North America (advised by Zurich Alternative Asset Management), and procured the buyer, Twining Properties.  Zurich’s in-house team, including Chris Edgar, director of multifamily acquisitions and Sean Bannon, managing director and head of U.S. real estate, represented Zurich in the disposition. Twining Properties acquired the property on behalf of one of its clients. Twining’s acquisition efforts were led internally by Ed Rotter and Brian Hong.

Additionally, working on the buyer’s behalf, HFF’s debt placement team, which included senior director Geoff Goldstein and director Rory Shepard, secured an acquisition loan through Principal Global Investors.

The Atlantic Stamp Building is located at 307-309 Atlantic Ave. between Smith and Hoyt Sts. at the convergence of four neighborhoods – Boerum Hill, Downtown Brooklyn, Cobble Hill and Brooklyn Heights.  The property comprises 26 studio, one- and two-bedroom apartment units and 3,544 s/f of ground-floor retail. Completed in 2010, The Atlantic Stamp Building offers access to transportation, rooftop views and unit finishes including stainless steel appliances, Miton cabinetry, granite countertops, Toto/Kohler bathrooms and Italian porcelain tile.

 Holliday Fenoglio Fowler, L.P. is a New York licensed real estate broker.