Cosentino and Norris of TerraCRG sell two mixed-use buildings $5.37 million

Brooklyn, NY TerraCRG closed on the sale of two individual mixed-use buildings adjacent to each other on Park Slope’s 5^th Ave. for a $5.37 million. Partner Matt Cosentino and senior associate Remi Norris represented both sellers in the separate off-market transactions.

The properties located at 500A and 502 5^th Ave. are both free market, tax-class protected buildings, with two residential units over a ground floor retail space.

“These closings represent the market’s continued confidence in free market mixed-use investment opportunities—as well as our firm’s ability to maximize value for long-time property owners,” said Norris.

Each building totals 3,600 s/f. 500A 5^thAve. sold at a closing price of $2.66 million, which represents $739 per s/f. 502 5^th Ave. sold at a closing price of $2.71 million, which represents $753 per gross s/f.

The properties are located a few blocks away from the 4^th Ave./9^thSt. subway station.

with access to the F, G, and R trains to the rest of Brooklyn, Manhattan, and Queens.