TerraCRG and its multifamily sales teams continue to demonstrate to owners the advantages of utilizing our firm’s sales platform. With record-setting sales transactions completed across the Brooklyn market, including highest price per square foot and price per unit sale prices achieved in Park Slope, Carroll Gardens, Cobble Hill, Crown Heights, Lefferts Gardens, Bushwick and Bedford-Stuyvesant.

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Multifamily Transactions

While we continued to see a decline in total dollar volume of trades in the multifamily asset class in 2017, especially from the peak of the market in 2015, pricing generally remained the same.

Adam Hess, Partner

Brooklyn 2017 Market Report Multifamily

Download the 2017 Brooklyn Multifamily Report

Multifamily Insights

2016 Avg Sale Price: $5.93m

Average Price by Region

  • Bed-Stuy/Bushwick/Crown Heights $3.71m
  • Central Brooklyn $6.23m
  • East Brooklyn $2.56m
  • Greater Downtown Brooklyn $8.55m
  • North Brooklyn $15.86m
  • South Brooklyn $8.49m
  • West Brooklyn $2.36m

Eighth Avenue Portfolio Case Study

Adam Hess, along with his team, were the sole brokers in the sale $37,00,000 of a 47-unit portfolio on Eighth Avenue in Park Slope.

The team conducted three highest and best bidding rounds, increasing the sale price by 15%, which resulted in an additional $6,000,000 for the seller

Adam Hess, Partner

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