June 22, 2021

TerraCRG facilitates sales of four Brooklyn properties – $10.5 million total

TerraCRG has closed on the sale of four properties across the borough totaling $10.5 million.

Despite the lingering effects of the COVID-19 pandemic on the commercial real estate market, TerraCRG partner Matt Cosentino executed three sales in a span of just four weeks. “These closings represent the market’s continued confidence in the multifamily residential market – and Brooklyn’s real estate market overall,” said Cosentino, partner of TerraCRG.” We look forward to building on this momentum to make 2021 a strong year for multifamily transactions.”

377 13th St. is a four-story, eight unit building in Park Slope with 6,000 gross s/f. After a substantial rehabilitation, the building has a projected rent roll of $320,000 and, at a closing price of $3.65 million, represents $608 per gross s/f.

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