October 23, 2017

Buyer of Bankruptcy Baron building looks to flip property for double

Urban Standard Capital purchased a 3-story building at 320 Court St. for nearly $5 million in one of the sales. The company was able to get a bargain because assets this small often pass under the radar of major financial institutions, whittling down the number of potential bidders. The quick turnaround time further constricted the pool of buyers to those with the cash on hand, giving Urban Standard an edge.

“We are seeing tremendous demand in the market for core retail assets in prime Brooklyn corridors,” said Adam Hess of TerraCRG, which is handling the sale. “320 Court St. checks all those boxes.”

Read more here.