August 8, 2019

ON THE SCENE: TerraCRG announced the sale of 55-61 Summit Street

News Recent Closings

Real Estate Weekly


TerraCRG announced the sale of 55-61 Summit Street, a 17,600 BSF development site in the Columbia Street Waterfront District of Brooklyn. Dan Marks, Peter Matheos and Mike Rafter of the TerraCRG team represented the seller and closed the deal at $3,725,000. The property is comprised of four lots totaling 8,000 s/f and is currently occupied by a one-story garage and vacant land. 55-61 Summit Street was recently rezoned to a Mandatory Inclusionary Housing site with an R6B designation, allowing for a total of 17,600 BSF with a 2.2 FAR. The quiet, residential blocks surrounding the property are lined primarily with townhouses, punctuated by occasional new developments. It is a short walk to the F and G Carroll Street stop and close by to the SB Red Hook ferry which goes to DUMBO and Wall Street.

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