Cosentino and Satanovsky of TerraCRG close $1.795 million sale

Matthew Cosentino, vice president of investment sales at TerraCRG, has closed on the sale of 773 Hart St. in the Bushwick neighborhood. Cosentino and associate Eric Satanovsky represented the seller and sold the property for $1.795 million. The 4,275 s/f, three-story building is located between Knickerbocker and Wilson Aves. and is comprised of five vacant free market units. With all of the units fully gutted by the seller, the new owner will be able to complete a full customized renovation of their own design and create four three-bedroom apartments and one ground floor duplex of 1,680 s/f. In addition, a number of structural improvements were made to the building, including new footings, columns, and beams and joists in the basement, second, and third floors. The building has outstanding ceiling heights throughout, stretching to approximately 14 ft. on the top floor which allows for a mezzanine. The property is in a Bushwick location, less than two blocks from the newly refurbished Maria Hernandez Park and in the heart of Bushwick's flourishing art scene. The building is also across the street from The Knick, a 49-unit condominium conversion and a brand new rental building that is under construction. The recently opened Molasses Books, a bookstore and coffee shop, the highly acclaimed restaurant Northeast Kingdom, Hana Natural Organic Market and Wine Shop, and Fritzl's Lunch Box are just a few blocks from the building. The property is conveniently located within close proximity to both the L train at the DeKalb Ave. station and the M train at the Central Ave. station. "With a quality renovation, the building will have a potential gross income of at least $200,000," said Cosentino, who specializes in the sale of multifamily and mixed-use sales in Bushwick and Bedford-Stuyvesant. "The property is located on one of the most desirable blocks in Bushwick, home to some of the most successful luxury buildings in the neighborhood," Cosentino said.