June 11, 2019

Local Investor Sells Brooklyn Office Building Near Pacific Park Project for $5.2 Million

A local investor sold a fully leased office building in Brooklyn to Broadway Export for $5.2 million, or $520 per square foot.

The fully leased, two-story structure at 603 Bergen St. was built in 1930 and renovated in 2018. The Class B property is one block from Pacific Park, the $6 billion-dollar development project which will include approximately 17 high rise buildings for residential, mixed-use and office space spread over 22 acres upon completion.

Ofer Cohen, Dan Marks and Adam Tannenbaum of TerraCRG represented both the buyer and seller, which originally purchased the property in May 2017, CoStar data shows.

“603 Bergen Street represents one of the few commercial buildings in Prospect Heights and the response from the market reflected the demand for this type of asset,” Marks said in a statement.

Read the full article here