Hess of TerraCRG sells four properties totaling $12.55 million

Adam Hess, partner and senior VP of TerraCRG has closed on the sale of four multifamily buildings in Park Slope and Carroll Gardens for $12.55 million. Two of the properties - 310 12th St. and 14 Lincoln Place - are located in Park Slope. The other two buildings - 96-98 Baltic St. were sold as a package to a local investor. The sales were handled by Hess and his team, senior associate Sam Shalumov, and associate Chris Pechlivanides. The properties were marketed and sold separately: * 310 12th St. is located between Fifth and Sixth Aves. The four-story, 20-unit building sold for $6 million The property was purchased by Slate Property Group. * 14 Lincoln Place is located between Fifth and Sixth Aves. The four-story, eight-unit building closed for $3.5 million. The purchaser was an overseas investor based in Israel. Both 310 12th St. and 14 Lincoln Place are located within walking distance of the Barclays Center, BAM, Grand Army Plaza, and Park Slope's Fifth Ave. retail corridor, which is lined with some of the borough's best boutiques, restaurants, and artisanal shops. The R train is easily accessible from both properties. 96-98 Baltic St. is comprised of two, four-story, eight-unit buildings, located between Columbia and Hicks Sts. in the Columbia Waterfront District. The property sold for a combined total of $3.05 million,. The Columbia Waterfront neighborhood is surrounded by culture and bordered by three of the most historic areas in Brooklyn: Brooklyn Heights, Cobble Hill, and Carroll Gardens. The property is in walking distance to Brooklyn Bridge Park, several community gardens, art galleries, restaurants, and a growing music scene. "The volume of trades we are seeing in multifamily properties, particularly in the 8-20 unit range, appears to be a new focus for investors looking to participate in the Brooklyn boom," said Hess. TerraCRG is a real estate brokerage and advisory firm focused solely on commercial transactions in Brooklyn. In just six short years, and through the depths of the recession, TerraCRG established itself as a true Brooklyn market leader, completing over 70 transactions a year in Brooklyn by tailoring its approach to suit the needs of investors, property owners, developers and lenders. TerraCRG was a vital market player during the recovery that became evident with the strong market of 2011 and in 2012, the firm was ranked number 2 in the 2012 Top 10 Brooklyn Commercial Brokerage Firm Ranking by Co-Star.