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Brokerage
Posted: June 11, 2024
Cosentino and Norris of TerraCRG sell 556 Vanderbilt Ave. for $2.52 million
Brooklyn, NY TerraCRG brokered the sale of the 3,000 s/f mixed-use building at 556 Vanderbilt Ave.located in Prospect Heights. Matthew Cosentino and Remi Norris of TerraCRG exclusively brokered the transaction for a sale price of $2.52 million.
The three-unit building consists of two free-market residential units and one retail store. The retail space is occupied by, BierWax, a vinyl record craft beer bar.
556 Vanderbilt Ave. is 2.5 blocks from Barclay’s Center and near the newly opened Chelsea Piers Athletic Complex. The building is located in the Pacific Park Development which includes a new children’s playground, a dog park, 278 condos, over 1,000 rental units and 1,700 residential units still to come.
The property is accessible to almost all of the borough’s major subway lines, including the 2/3 train at Bergen St., the B/Q train at 7th Ave. and the 2/3/4/5/B/D/N/Q/R/W and LIRR at Atlantic Terminal.
“Taking into consideration the premier location and the free-market status, the building traded at a premium for $840 per s/f,” said Cosentino.
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