Acquisition · Prospect Heights

858 Atlantic Avenue trades for $3.9M

Street-level view of 858 Atlantic Avenue, Brooklyn, NY
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Amount
$3.9M
Type
Acquisition
Date
Aug. 2026

858 Atlantic Avenue, Brooklyn, NY

Recorded in NYC property records.

Seller
858 Atlantic Development LLC
Buyer
Atlantic Equties NY LLC
Lender
S3 SB Real Estate Credit A Trust
The Deal at a Glance
  • Seller: 858 Atlantic Development LLC; buyer: Atlantic Equties NY LLC, spelled as recorded.
  • $14 million in same-day financing from S3 SB Real Estate Credit A Trust, in mortgages of $11.1 million and $2.9 million.
  • The site is a one-story 1930 garage on an interior lot between Vanderbilt and Underhill avenues.
  • Permits were filed in March 2026 for a 15-story, 36-unit mixed-use building, per New York YIMBY.

Overview

858 Atlantic Development LLC sold 858 Atlantic Avenue in Prospect Heights to Atlantic Equties NY LLC, as the buyer's name is spelled on the deed, for $3.9 million, according to a deed dated Aug. 24, 2026 and recorded on Sept. 1, 2026. PincusCo reported the same $3.9 million price.

The buyer financed the purchase with two mortgages from S3 SB Real Estate Credit A Trust, recorded the same day: $11.1 million and $2.9 million, or $14 million in all. A related assignment of leases and rents was recorded for $2.9 million.

The interior lot, Brooklyn Block 1122, Lot 11, sits on Atlantic Avenue between Vanderbilt and Underhill avenues and holds a one-story garage built in 1930, according to city records. In March 2026, before the sale, permits were filed for a 15-story, 155-foot mixed-use building on the site with 36 apartments and 23,884 square feet, according to New York YIMBY, which named Barry Wagschal of Wagstone Capital as the owner behind the applications. The records do not show whether the new owner will pursue that plan.

A $3.9 million garage on Atlantic Avenue with $14 million of financing behind it and permits on file for a 15-story, 36-unit building: another development site changing hands on the stretch of Atlantic Avenue between Vanderbilt and Underhill avenues.

Parties Involved 3 recorded

Editorial monogram for 858 Atlantic Development LLC — not an official logo.858
Seller
858 Atlantic Development LLC
Named in the record; no Hush Street entity profile yet.
Basis

Party 1 (grantor) on the ACRIS deed, doc 2026083100652001.

Editorial monogram for Atlantic Equties NY LLC — not an official logo.AE
Buyer
Atlantic Equties NY LLC
Named in the record; no Hush Street entity profile yet.
Basis

Party 2 (grantee) on the ACRIS deed, doc 2026083100652001; spelled as recorded.

Editorial monogram for S3 SB Real Estate Credit A Trust — not an official logo.SS
Lender
S3 SB Real Estate Credit A Trust
Named in the record; no Hush Street entity profile yet.
Basis

Party 2 on the ACRIS mortgage, doc 2026083100652004, with Atlantic Equties NY LLC as Party 1.

Counts and combined values are computed from Hush Street’s own published Deal records only. “Combined” is the total value of the transactions a party appears on, not capital deployed by that party, and two parties on the same transaction each reflect its full amount. Not a career or market total.

Marks shown are Hush Street editorial monograms, generated from each party’s recorded name — not official company logos.

Property & Project

Address858 Atlantic Avenue, Brooklyn, NY
NeighborhoodProspect Heights
Property TypeCommercial
Sources & Recordsverification, citations & data notes
Verification
Verified — Primary Source
Sources
  1. ACRIS Deed, 858 Atlantic Avenue — NYC Department of Finance (ACRIS)
  2. ACRIS Mortgage, 858 Atlantic Avenue — NYC Department of Finance (ACRIS)
  3. ACRIS Mortgage, 858 Atlantic Avenue — NYC Department of Finance (ACRIS)
  4. ACRIS Assignment of Leases and Rents, 858 Atlantic Avenue — NYC Department of Finance (ACRIS)
  5. Permits Filed for 858 Atlantic Avenue in Prospect Heights, Brooklyn — New York YIMBY
  6. 858 Atlantic Avenue (BBL 3011220011) — PincusCo
Amount
Purchase price is the $3,900,000 on the recorded deed, matching PincusCo's report. Same-day mortgages of $11,100,000 and $2,900,000 ($14,000,000 in all) are financing, not price.