Cosentino, Satanovsky and Bataille of TerraCRG complete $2.025 million

Brooklyn, NY TerraCRG, one of Brooklyn’s leading commercial real estate brokerage firms, arranged sale of two vacant properties - 599 Putnam Ave. in Bedford-Stuyvesant and 374-376 Cleveland St. in the East New York neighborhood of the borough. Matt Cosentino, Eric Satanovsky and John Bataille represented the sellers in both transactions. These properties sold for a combined totaled of $2.025 million. The multifamily brownstone at 599 Putnam Ave. sold for $1.375 million or $382 per s/f. The 3,600 s/f building is located on a beautiful, serene, tree-lined block. The property is currently a legal two-family and in need of a complete renovation. The buyer is an end-user with plans to live in the property. The sale of 374-376 Cleveland St. for $650,000 includes a 5,400 s/f existing building, and an attached 2,250 s/f lot allowing for 2,813 BSF. The entire mixed-use property was delivered vacant and in need of a full renovation. The building is currently configured as seven units and a 1,800 s/f ground floor space. There is a tremendous upside in this area as it situated within mayor De Blasio’s East New York re-zoning plan. An up-zoning of the neighborhood would bring substantial development to an already emerging area. “With the prices in Bedford-Stuyvesant, Bushwick and Crown Heights rising, East New York is getting more attention from some of the more progressive investors that are looking for the next developing area. While Bedford-Stuyvesant is a more established neighborhood at this point, vacant properties in both Bedford-Stuyvesant and East New York continue to garner a premium as they allow buyers to go forward with an immediate renovation of the property,” says Matt Cosentino, Vice President of Investment Sales at TerraCRG.