328 Atlantic Street

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Property description

328 Atlantic is a gem property with tremendous opportunity; EGC has therefore developed a detailed plan to maximize its potential and projected profit. EGC is purchasing the property at $4.25M (before closing costs) and converting it into a condominium building. EGC will invest another $1.9M to add two additional floors to the existing two floors. The first floor will be a commercial retail space and the three floors above it will be full floor, 1680 square foot (156 sM) 3-bedroom apartments. The projected total cost of the project is $7.5M (approximately) and the total expected income from the sale of the building is estimated at $10.3M (approximately). The total estimated time for this project is 30 months.