March 12, 2014

‘You May Be Right’ About Bedford-Stuyvesant

Today TerraCRG announced that it sold a renovated multifamily building at 244 Madison Street for $3.65 million, just one in a recent string of multifamily sales fetching prices once reserved for Brooklyn’s more affluent enclaves. The sale comes amid a backdrop of rental rates that remain comparatively low, as investors keen to the gentrification spreading through the neighborhood look to get in while they can.