News:
Brokerage
Posted: April 14, 2017
Cosentino, Satanovsky and Bijou of TerraCRG arrange $2.225 million sale of Brooklyn mixed-use building
Brooklyn, NY TerraCRG has brokered the sale of 205 Wyckoff Ave., a mixed-use building located between Harman St. and Greene Ave. in the Bushwick neighborhood. Matt Cosentino, Eric Satanovsky and Fred Bijou handled the transaction, which sold for $2.225 million.
“Wyckoff Ave. is quickly becoming one of the most exciting retail corridors in Brooklyn. While there are already many excellent existing national and local tenants on the Ave., there is also tremendous potential for retail rental growth, which is leading to strong investor demand for these properties,” said Bijou, associate at TerraCRG.
The three-story brick building sits on a 25 ft. x 84.17 ft. lot and consists of five free market residential units, of which four are vacant and one is a renovated duplex.
The property is located on Wyckoff Ave. The retail development in this location has exploded with some of the best restaurants, bars and cafés opening in the immediate vicinity, including, Hanna Natural Organic Market and Wine Shop, Starbucks, Planet Fitness, GoodYoga, Variety Coffee shop and more.
205 Wyckoff Ave. sits just two and a half blocks from the DeKalb Ave.L train and is in close proximity to the Myrtle-Wyckoff M & L trains.
Tags:
Brokerage
MORE FROM Brokerage
Marcus & Millichap brokers $16.25 million sale of Ponce Bank flagship headquarters in the Bronx
Bronx, NY Marcus & Millichap negotiated the sale of a net-leased bank property occupied by Ponce Bank. The asset sold for $16.25 million. “This property drew tremendous interest as it was a
Quick Hits
Columns and Thought Leadership
Tri-state capital migrates nationally amid regulation pressure - by Reese Weaver
New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,
A fresh start - by Shallini Mehra and Amit Doshi
For the past several years, the New York City multifamily housing market has been defined by disruption. The combined impact of the HSTPA rent laws and a sharply higher interest rate environment has fundamentally reduced
The anticipated effect of Basel III and ISO 20022 implementation on commercial real estate - by Michael Zysman
July 1, 2025 is the deadline for US banks to begin to adopt Basel III banking standards and July 14, 2025 is the deadline for U.S. banks to adopt ISO 20022 messaging standards. Both will have a significant effect on the banking and commercial real estate (CRE) finance sectors.
The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian
There was a time when an offering memorandum (OM) was pretty bare bones, some photos, a few bullet points on income, and a rent roll thrown in at the back. That used to get the job done. Not anymore. In 2025, buyers are sharper, faster, and more selective. They’re looking