August 9, 2017

Developers tempted by Williamsburg site

Property News


TerraCRG has sold 172 Montrose Avenue in East Williamsburg, a 51,000 s/f residential development site, for $14.5 million.

The deal was brokered by Ofer Cohen, CEO and founder, along with Dan Marks, partner, Nicole Rabinowitsch, senior vice president, and Mike Hernandez, associate vice president.

“This is an important sale for the Brooklyn development market,” said Marks. “After a few years of declining development transactions in the market, we are now seeing renewed interest from the development community.”

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