Cosentino of TerraCRG to market Bed-Stuy corner property with retail space for $1.8 million

According to TerraCRG, one of Brooklyn's leading commercial real estate brokerage and advisory firms, Matthew Cosentino, VP of investment sales has been retained as the exclusive agent for the sale of 570 Putnam Ave. in the Bedford-Stuyvesant neighborhood. The property is presented with an asking price of $1.8 million. The four unit building is located between Throop Ave. and Marcus Garvey Boulevard on a retail and residential corner. The property consists of a 1,800 s/f retail space (with an additional 1,200 s/f below grade), three large residential units that are 1,000 s/f each, and 800 s/f of outdoor terrace space, which can be dedicated to either the retail space or the residential units. The property is perfectly situated with the retail entrance located on Marcus Garvey Boulevard, a busy retail corner, and the residential entrance is located on Putnam Avenue, a beautiful brownstone block. The property is conveniently located in close proximity to the C train at the Kingston Throop Station and near many new and exciting cafés, restaurants, and bars that are opening in the area. The property is also ideally located near Restoration Plaza, which has become a hub of retail growth in the area. Nearby national tenants include Foodtown Supermarket, CitiBank, Chase Bank, Applebee's, and Duane Reade. The building is a short walk from many new popular retailers, including Saraghina Restaurant, Crocus Cafe, Celestino Restaurant, and Simplicity Wine Bar. "This property possesses significant upside, as the existing rent is over $180,000 per year and, due to the large size of the units, the building can potentially be reconfigured to include more apartments and raise the annual income to over $200,000 a year," said Cosentino.