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Brokerage
Posted: June 18, 2019
Cohen, Marks and Tannenbaum of TerraCRG handle $5.2 million sale in Prospect Heights
Brooklyn, NY TerraCRG has closed on the sale of 603 Bergen St. in Prospect Heights. Ofer Cohen, Dan Marks and Adam Tannenbaum of TerraCRG were the brokers on the $5.2 million sale.
“We are happy to announce the sale of this great property,” said Marks, partner at TerraCRG. “603 Bergen St. represents one of the few commercial buildings in Prospect Heights and the response from the market reflected the demand for this type of asset.”
The cash-flowing commercial property is in a neighborhood that is experiencing incredible growth with new residential and office developments on the rise. The property is a fully renovated, 18-unit, commercial building located between Vanderbilt and Carlton Aves. The tenants range from several different industries including, food and beverage, fitness, architecture, and more.
The two-story, M-zoned property is comprised of 10,000 s/f and is fully occupied. The property sold for $520 per s/f.
Over the last decade, Prospect Heights, situated between Park Slope and Crown Heights, has become one of NYC’s most popular neighborhoods to live and work in. Just one block away is Pacific Park, the $6 billion development project which will include 17 high-rise buildings for residential, mixed-use, and office space spread over 22-acres upon completion.
603 Bergen St. is within short distance to several subway lines including the C train at Clinton-Washington, the 2, 3, B, and Q trains on Flatbush Avenue, as well as Barclays Center - Atlantic Terminal, servicing the 2, 3, 4, 5, B, D, N, Q, R, trains and the LIRR.
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