Closed 03/26/2018

8,982 Building SF Mixed use building

482 Tompkins Avenue

Bed-Stuy/Ocean Hill

Closed 03/26/2018 at
$3,072,500

1854_37 Block_Lot
8,982 Building SF
10,823 Total Buildable SF
1,841 Available Air Rights
32.08 ft x 112.17 ft Lot Size
Subways
a
c
Mixed-Use 482 Tompkins Avenue, Bed-Stuy/Ocean Hill
Matthew Cosentino
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Overview

TerraCRG, Brooklyn’s leading commercial real estate brokerage firm, has announced the sale of 482 Tompkins Avenue, a mixed-use building in Bedford-Stuyvesant, Brooklyn. Matt Cosentino, along with Fred Bijou and Eric Satanovsky, closed the deal at $3,072,500 in just one week from contract signing.

“Finding 16 units in this prime section of Bed-Stuy is very challenging, but the buyer’s ability to close this transaction was a significant factor in the seller’s willingness to move forward quickly,” said Fred Bijou, Senior Associate at TerraCRG.

Fred originated the off-market transaction purchased by Urban Standard Capital. The closing price equates to about a 5% cap rate at $340 per SF.

 

The building contains approximately 10,823 SF and consists of 14 residential units and two retail stores on Tompkins Avenue. Of the 14 residential units, all are one-bedroom.

Attractions

482 Tompkins Avenue is ideally located two blocks from the A/C train at Nostrand Avenue, providing access to Manhattan in about 15 minutes. Additionally, it is located within very close proximity to some of the best national tenants in the neighborhood, including a brand-new Planet Fitness location, 7-Eleven, GNC, The Children’s Place, Walgreen’s and more.

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