September 22, 2021

Marks and Lebor of TerraCRG broker $3.15m off-market sale

Mentions News

New York Real Estate Journal

TerraCRG, a leading commercial real estate brokerage in the borough, has closed on the $3.15 million sale of a 3,600 s/f property located at 305 Nevins St. in the Gowanus rezoning area. Dan Marks and Daniel Lebor, partners at TerraCRG, were the sole brokers in the off-market transaction.

“Our firm’s working knowledge of this neighborhood – and the property itself – is truly comprehensive,” said Marks. “We leased the building to Ample Hills Creamery seven years ago, subsequently sold several buildings in the neighborhood including the South Brooklyn Casket Company portfolio on this block, and now with this deal, helped the buyer complete an assemblage in a prime Opportunity Zone, which will pave the way for the continued transformation of Gowanus into a major office, retail, and residential hub.”

Ample Hills will remain at the location per the terms of their lease.

Additionally, TerraCRG closed on the sale of an 11,000 s/f development site at 2771 – 2777 Atlantic Ave. in Cypress Hills for $2.95 million. Peter Matheos, Mike Rafter, Andrew Manasia, and Jourdon Delerme-Brown exclusively represented the seller, 2771 Atlantic Realty, LLC.

“Our most recent census numbers show Brooklyn’s population continues to grow at record levels, making residential development more critical than ever,” said Matheos, partner at TerraCRG. “This site in Cypress Hills has the potential to bring up to 55 new housing units to the market, and our expertise enabled a seamless transaction for both the buyer and seller.”

The site, located within an Opportunity Zone, allows for approximately 43,700 buildable s/f and is split-zoned R8A/R5B, C2-4, EC-5. There are currently three mixed-use buildings on the lots that will be delivered vacant. The site sits in a Special Enhanced Commercial District designation, which promotes and maintains a lively and engaging pedestrian experience along commercial avenues by implementing a mix of retail, office, and community facility uses on the ground floor of new developments. The site benefits from convenient subway access to the J/Z lines one block away at the Van Siclen Ave. Station and is located one stop away from the major transit hub at Broadway Junction.