March 6, 2020

TerraCRG sells $13.2 million Park Slope development site

TerraCRG has sold the development portfolio at 75 Fourth Ave. in Park Slope. The asset is one of the last opportunities to acquire a development site along Fourth Ave. before the proposed Gowanus Rezoning. Ofer Cohen, Dan Marks, Daniel Lebor, Peter Matheos and Mike Rafter have closed the deal at $13.2 million.

“In today’s market, it’s a rarity to find four contiguous parcels totaling an as of right of 37,000 buildable s/f along Fourth Ave. Regardless of what happens with the Gowanus Rezoning this site provides one of the last opportunities to acquire a site of this size in one of the most coveted neighborhoods in Brooklyn,” said Matheos, managing director at TerraCRG.

TerraCRG exclusively represented both the seller, Fourth New York Realty Co., and the buyer, Global Industries LLC.

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