June 19, 2018

Cohen, Marks and Lebor of TerraCRG arrange $62 million sale in Brooklyn

TerraCRG has sold a large commercially-zoned asset for $62 million. The property is adjacent to the Lowe’s property Two Trees acquired last month for $53 million.

The property is located in the Gowanus section at 1-37 Ext 12th St. The transaction was brokered by Ofer Cohen, Dan Marks, and Daniel Lebor of TerraCRG – the sole brokerage on the deal, representing both sides.

“We are thrilled to have worked with Two Trees on completing this significant, almost 15-acre, assemblage,” said Cohen, founder & CEO at TerraCRG. “Their long-term vision for the future of Brooklyn makes this a unique asset in the right hands.”

The M2-1 zoned tax lots total almost 240,000 s/f with existing buildings on the property totaling over 100,000 s/f, which includes the former Pathmark store. The properties are block-through and perched directly on the border of the Gowanus Canal. Two Trees Management Company purchased the assets from Team Slope LLC which is a joint venture between Meral Property Group and Joyland Group.

Read more here.