Cosentino and Satanovsky of TerraCRG chosen to sell 909 Jefferson Avenue

Matthew Cosentino, VP of investment sales at TerraCRG has been retained as the exclusive agent for the sale of the multifamily building located at 909 Jefferson Ave. in the Bedford Stuyvesant neighborhood. Cosentino will be assisted by associate Eric Satanovsky. The 5,142 s/f limestone building is located between Ralph Ave. and Howard Ave. The property has been gut renovated and contains six free market apartments. There are five three bedroom units and one duplex unit on the ground floor. Of the six newly renovated units, three are vacant. The building has a new rubberized roof, new electric and plumbing, individual boilers for each unit and central air, which is paid for by the tenants. The property is located in one of the most dynamic real estate sub-markets in New York. Dollar for dollar volume for commercial transactions in Bed-Stuy has grown fourfold from 2010 to 2013, with 2014 on track to surpass last year's trades. The building is located approximately just three blocks from the Gates Avenue J and Z trains. The property is located near many well-known restaurants, bars, and cafés, including Peaches Restaurant, Saraghina, Simplicity Wine Bar, Georges-Andre Vintage Café, Skytown Grill, Goodbye Blue Monday Lounge., and Jordan Heads Brooklyn, a Michael Jordan brand boutique. "When fully leased, the building has the potential to make around $175,000 annually," said Cosentino. "The property presents significant upside, as expenses are low, no renovation is required, and the three occupied units are rented below market value."