June 19, 2019

SELLING POINTS: TerraCRG announces the sale of 1000 Dean st. for $55,950,000.

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Real Estate Weekly

TerraCRG announced the sale of 1000 Dean, a 150,000 s/f creative office building in Brooklyn for $55,950,000.

Ofer Cohen, Dan Marks and Daniel Lebor of TerraCRG were the brokers. Asher Abehsera of LIVWRK is the buyer.

1000 Dean Street was built in 1920 as a service station for Dodge and Plymouth cars and trucks and became a Studebaker Service Station in the 1940’s.

In 2012, the building was purchased as a joint venture between Jonathan Butler (the founder of Brownstoner, Brooklyn Flea and Smorgasborg), BFC Partners and the Goldman Sachs Urban Investment Group, and was renovated into a creative office building.

“The sale is a not only a testament to the strength of the creative office market in Brooklyn but also the robustness of the entrepreneurial class in Brownstone Brooklyn,” said Cohen, Founder and CEO of TerraCRG.

“We are glad the building is in the very capable hands of Asher and his partners. Asher is a true pioneer in the renaissance of the creative/tech office market and has the intuition to continue to nurture the asset.”

The building is now home to over 90 media companies, non-profit organizations, artists, tech start-ups, manufacturers and more.

On the ground floor, the building is anchored by Berg’n, a Brooklyn beer hall and event space.

Read the full article here