874 Atlantic Avenue
Prospect Heights, Brooklyn
Parcel ID (BBL): 3011220021
Acquired: November 22, 2023, $25.6 million
Debt: March 02, 2026, $150 million
Transactions:
• EMP Capital Group borrowed $150 million from QuadReal Property Group for 870-888 Atlantic Avenue, Prospect Heights, Brooklyn on March 02, 2026.
• EMP Capital Group borrowed $110 million from QuadReal Property Group for 870-888 Atlantic Avenue, Prospect Heights, Brooklyn on May 13, 2024.
• EMP Capital Group borrowed $7.5 million from Investment Property Exchange Services for 870-878 Atlantic Avenue and 888 Atlantic Avenue, Prospect Heights, Brooklyn on November 22, 2023.
• Yoel Teitelbaum and Nikolaos Nikolaidis sold 870-878 Atlantic Avenue and 888 Atlantic Avenue, Prospect Heights, Brooklyn for $25.6 million to EMP Capital Group on November 22, 2023.
Development:
• Yoel Teitelbaum filed new building job B00712795 for 169,561 sqft R-2 building with 193 apartments in Prospect Heights, Brooklyn, on April 14, 2022.
• Elie Pariente filed alteration job B01191854 for 525 sqft R-2 building with 258 apartments in Prospect Heights, Brooklyn, on March 11, 2025.
• Elie Pariente filed alteration job B01078419 for 100 sqft building with 246 apartments in Prospect Heights, Brooklyn, on July 11, 2024.
• Eddie Gazheli filed alteration job B01078274 for 233,198 sqft building with 246 apartments in Prospect Heights, Brooklyn, on July 10, 2024.
• Eddie Gazheli filed alteration job B01065883 for 233,198 sqft building with 246 apartments in Prospect Heights, Brooklyn, on June 17, 2024.
• Eddie Gazheli filed alteration job B01055322 for 233,198 sqft building with 246 apartments in Prospect Heights, Brooklyn, on May 22, 2024.
Most recent Zoning Diagram (ZD1)
Violations:
According to city public data, the properties have received two DOB violations, $18,750 in ECB penalties, and $26,390 in OATH penalties in the last year.